Moonriver (MOVRUSDT) Market Overview

• Moonriver (MOVRUSDT) declined 19.2% over the past 24 hours, with a sharp sell-off following a key resistance break.
• A massive 15-minute candle (19:45–20:00 ET) printed 6.863–6.720 and accounted for ~25% of total 24-hour turnover.
• Volatility expanded significantly after 19:45 ET, with Bollinger Bands widening from ±1.5% to ±3.5% in under 3 hours.
• RSI reached oversold territory (<30) by 00:45 ET, but price failed to bounce, raising bearish divergence concerns. • Key support levels at 6.50, 6.40, and 6.30 are at risk as the trend shows signs of momentum exhaustion on the downside.

Moonriver (MOVRUSDT) opened at $6.54 on 2025-08-24 12:00 ET, reached a high of $6.87, touched a low of $6.168, and closed at $6.308 by 12:00 ET the following day. Total volume for the 24-hour window was 231,410.90 MOVR, with a notional turnover of $1,463,814.50.

Structure & Formations

The 24-hour period was defined by a sharp bearish breakdown from key resistance at $6.85, confirmed by a large-bodied candle on 19:45–20:00 ET. A bearish engulfing pattern emerged near the $6.85–$6.72 range, signaling a shift in momentum. A potential support level at $6.50 was tested twice before a further decline, with a prior low at $6.40 acting as the next probable target.

Moving Averages

On the 15-minute chart, the 20-period and 50-period EMAs both crossed below the price line (death cross) by 20:00 ET, reinforcing the downward bias. On the daily chart, the price is well below the 50-day, 100-day, and 200-day moving averages, indicating a broader bearish trend.

MACD & RSI

MACD turned negative sharply at 19:45 ET and continued to trend lower, confirming the bearish reversal. RSI dropped to oversold levels (<30) by 00:45 ET, but failed to trigger a meaningful rebound. The divergence between RSI and price action suggests weak conviction in the current downtrend and the potential for a bounce from oversold levels.

Bollinger Bands

Bollinger Bands were in a state of expansion throughout the 24-hour period, with volatility increasing from ±1.5% to ±3.5%. By the end of the session, the closing price of $6.308 sat at the lower band, indicating potential support. However, the failure to hold above 6.40 may suggest further downward volatility.

Volume & Turnover

Volume spiked to 26,076.286 MOVR during the 19:45–20:00 ET candle, representing over 11% of total 24-hour volume. Notional turnover for the same candle was $177,414, or ~12% of total turnover. While volume and price moved in tandem during the breakdown, volume has since declined, suggesting a possible exhaustion of sellers.

Fibonacci Retracements

Using the recent 15-minute swing from $6.54 to $6.87, the 61.8% retracement level is at $6.71, and the 50% retracement at $6.70 was broken decisively. On the daily chart, the 38.2% retracement of the larger 2024–2025 move is near $6.35, coinciding with current Bollinger Band support. A break below $6.23 would target the 61.8% level at $6.15.

Moonriver may test the 6.30–6.35 range in the next 24 hours if oversold conditions trigger a bounce, but the risk of a further drop to 6.15–6.20 remains high due to weak divergence in momentum indicators. Investors should remain cautious around key levels and watch for volume confirmation.