Market Overview: Movement/Tether (MOVEUSDT) on 2026-01-08

Generated by AI AgentAinvest Crypto Technical RadarReviewed byAInvest News Editorial Team
Thursday, Jan 8, 2026 10:34 pm ET1min read
MOVE
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- MOVE/USDT fell 1.3% to 0.0368, testing key Fibonacci levels and forming bearish patterns near 0.0373.

- Volume spiked during a failed overnight rebound, with RSI near oversold 0.0364-0.0366 support and Bollinger Bands tightening.

- 61.8% retracement at 0.0373 failed to hold, suggesting potential decline to 0.0360 if 0.0364 support breaks.

- Divergence between price and turnover during 06:00-09:00 ET indicates weakening bullish conviction amid elevated volatility.

Summary
• Price action shows a bearish bias with a 1.3% drop from open to close on the 24-hour chart.
• Volume spiked during the overnight rebound but failed to confirm a bullish reversal.
• RSI remains neutral, but price is approaching key support at 0.0364–0.0366.
• Bollinger Bands show tightening volatility before a potential break lower.
• Fibonacci levels suggest potential bounce from 0.0364 or further decline to 0.0360.

At 12:00 ET–1 on January 7, Movement/Tether (MOVEUSDT) opened at 0.0372 and closed at 0.0368 by 12:00 ET on January 8. The pair reached a high of 0.0380 and a low of 0.0364, reflecting 1.3% downside pressure. Total volume for the 24-hour period was approximately 11.6 million contracts, with a notional turnover of $433,000.

Structure & Formations


Price action displayed a bearish bias as the pair tested and rejected key Fibonacci levels multiple times during the night. A small bearish engulfing pattern formed near 0.0373 in the early hours of January 8, followed by a failed bullish attempt in the 04:00–06:00 ET range. A doji formed near 0.0368 on the 5-minute chart, indicating indecision.

Moving Averages


On the 5-minute chart, price spent much of the session below the 20-period and 50-period moving averages, confirming short-term bearish momentum. The daily chart shows the 50-period MA at 0.0373, which the price has fallen below, suggesting intermediate-term bearish bias.

MACD & RSI


The 5-minute MACD showed bearish divergence late in the session, with negative momentum accelerating. RSI remained in neutral territory but approached oversold conditions near 0.0364–0.0366, suggesting potential for a short-term bounce. However, the lack of a strong bullish reversal pattern weakens confirmation.

Bollinger Bands


Volatility contracted during the overnight hours, with price trading tightly within the bands ahead of a break lower. At 12:00 ET, price sat near the lower band at 0.0368, indicating potential for either a bounce or a continuation lower depending on volume and order flow.

Volume & Turnover


Volume was relatively steady during the early part of the session but spiked during the overnight rebound attempt near 0.0375. Notional turnover increased during this period as well, but failed to confirm a sustained bullish move. Divergence between price and turnover during the 06:00–09:00 ET period suggests weakening bullish conviction.

Fibonacci Retracements


Fibonacci levels based on the 0.0364–0.0380 swing identified a 61.8% retracement at 0.0373 and a 38.2% retracement at 0.0377 as potential pivot points. Price failed to hold above the 61.8% level, and a break below 0.0364 may target 0.0360 as the next Fibonacci level.

Looking ahead, a close below 0.0364 could signal a breakdown to 0.0360. Investors should monitor volume and order flow during the next 24 hours, particularly for signs of accumulation or continued bearish momentum. Volatility remains elevated, and sharp price moves in either direction are possible.