Movement (MOVE) Drops 22% Ahead of Mainnet Launch, Eyes Recovery

As the crypto market faces a challenging week, the second week of March 2025 brings hope for recovery. The rebound could stem from broader market trends or individual network developments. Three altcoins have been identified for investors to watch closely: Movement (MOVE), Immutable (IMX), and Tron (TRX).

Movement (MOVE) has seen its price hit a new all-time low of $0.370 as investors pulled back ahead of the anticipated mainnet launch scheduled for this week. This event could mark a turning point for the altcoin, influencing investor sentiment and potential market movements in the coming days. Currently, MOVE is trading at $0.464, consolidating below the $0.527 resistance while holding above the $0.420 support. If bullish momentum builds, the altcoin could push toward $0.617. A successful breach of this level would confirm recovery and attract renewed investor confidence. However, if MOVE remains heavily influenced by broader market trends, a breakdown below $0.420 could trigger further losses, potentially forming a new bottom and extending its bearish trajectory.

Immutable (IMX) has been trading within a descending wedge for the past two months, currently priced at $0.539. The altcoin has declined by 22% over the last two weeks, reflecting sustained bearish pressure. However, the technical pattern suggests the potential for a breakout, offering a chance for a trend reversal. IMX is holding above its key support level at $0.508, reinforcing the possibility of an upward move. Supporting this is the upcoming launch of RavenQuest, a Sandbox MMORPG set for release on March 14. This event could attract fresh investment, drive renewed interest, and improve market sentiment around IMX. If investor enthusiasm supports IMX, the altcoin could break through the $0.684 resistance and aim for $0.810. However, failure to breach this level would invalidate the bullish outlook. In a bearish scenario, IMX could lose support at $0.508, leading to a potential decline toward $0.400.

Tron’s price, at $0.234, has demonstrated resilience, maintaining stability despite broader market fluctuations. Over the past three months, the altcoin has remained within a tight range, showing limited volatility.