Moonriver/Tether (MOVRUSDT) Market Overview

• Moonriver/Tether (MOVRUSDT) declined 5.7% over 24 hours, closing near a key support level at $3.71.
• Volatility expanded midday with a 3.5% swing, followed by a consolidation phase after 8:00 PM ET.
• On-balance volume spiked during the selloff, confirming bearish momentum and weakening bulls’ control.
• RSI reached 29 in the final 4 hours, suggesting potential oversold conditions but no immediate reversal sign.
• A bearish engulfing pattern formed at $3.96, with a possible test of prior support near $3.70–$3.68.

Moonriver/Tether (MOVRUSDT) opened at $4.012 on 2025-10-21 at 12:00 ET and closed at $3.731 on 2025-10-22 at the same hour, reaching a high of $4.058 and a low of $3.673. Total traded volume was approximately 125,015.68 MOVR, with notional turnover of ~$472,024 over 24 hours. The pair showed a bearish bias amid increasing bearish conviction in the last 6 hours of the period.

Structure & Formations

Price action revealed a key bearish engulfing pattern near the $3.96–$4.00 level, signaling a shift in momentum. The selloff accelerated after a failed rally attempt to $4.055, leading to a breakdown below the $3.85 psychological level. A tight 15-minute consolidation phase from 1:45 PM to 4:15 PM ET failed to generate a meaningful reversal. Notable support levels appear at $3.70–$3.68 and $3.65, with resistance retesting $3.82–$3.85.

Moving Averages

On the 15-minute chart, price broke below the 50-period and 20-period moving averages, confirming bearish momentum. The 100-period MA on the daily chart remains above the 200-period MA, indicating a mixed bias in the medium-term trend. The 50-period MA crossed below the 100-period MA, suggesting a potential bearish crossover developing.

MACD & RSI

The 12–26–9 MACD showed a bearish crossover with increasing negative divergence, aligning with the price drop from $4.055 to $3.673. RSI dipped below 30 in the final 4 hours, suggesting potential oversold conditions, but with no immediate reversal sign. A failure to hold above $3.73–$3.74 could lead to further bearish exhaustion.

Bollinger Bands

Volatility expanded significantly during the selloff, pushing price toward the lower band for over 6 hours. The 15-minute bands showed a contraction period from 5:30 PM to 9:30 PM ET before resuming a downtrend. Price remains near the lower band, indicating a potential continuation of bearish pressure unless a strong bounce above the middle band is seen.

Volume & Turnover

Volume spiked during the $3.96–$3.673 selloff, confirming the bearish move. Turnover surged during the 3-hour window between 3:30 PM and 6:30 PM ET, reinforcing the breakdown below key support. A divergence between price and volume was noted in the final 2 hours, hinting at possible bear fatigue.

Fibonacci Retracements

A 61.8% Fibonacci retracement level from the $3.673 low to the $4.055 high was found near $3.73–$3.75. Price has tested this area three times in the last 24 hours. A breakdown below $3.70 would confirm a potential 78.6% retracement target near $3.65 as the next bearish target.

Backtest Hypothesis

To refine a backtest strategy for MOVRUSDT, it is essential to ensure accurate ticker identification. Given the absence of the MOVRUSDT symbol in the data provider’s database, it is likely stored under an exchange-specific format. Based on standard naming conventions, the correct ticker may be BINANCE:MOVRUSDT, KUCOIN:MOVR-USDT, or GATEIO:MOVR_USDT. For the most reliable MACD data, I recommend using BINANCE:MOVRUSDT, as Binance’s dataset is widely standardized. Once confirmed, the MACD series can be integrated into the backtest to model entry/exit signals during key volatility spikes, particularly around the $3.73–$3.673 range.