MOVR started the up journey Hey, MOVR and DOT have a very interesting journey ahead. For me (fundamental) one of the most interesting projects at the moment. Now price doesn't go along with progress (not always..) but we can see now a bottoming and beginning of an uptrend. Time to accumulate...
Moonriver is a parachain on the Kusama network. Kusama is a "canary network" which encourages experimental development prior to implementation on the Moonbeam sister chain on Polkadot. Like Moonbeam, Moonriver is an EVM-compatible smart contract platform built using the Substrate framework. The network has a native token called Moonriver (MOVR), which will allow holders to participate in consensus through staking, paying for transactions, and vote on governance proposals.
MOVRUSDT trade ideas
Moonriver (MOVR) - Bullish divergenceOn the above 3-day chart price action has corrected a massive 90% since late November. A number of reasons now exist to be bullish:
1) The ‘incredible buy’ signal prints.
2) Regular bullish divergence. Seven oscillators are printing bullish divergence at this time including MACD over a 15 day period.
3) Points 1 and 2 are also true for the BTC / MOVR pair as shown on the 2-day chart below.
4) On the daily chart (bottom) there is clear volume divergence. I don’t know why money is pouring in, someone knows something I don’t.
Is it possible price action falls further? Sure.
Is it probable? No.
1st target $180
Good luck!
WW
2-day MOVR/BTC
1-day dollar chart
MOVR - 38% SMASHED TO HIGH TIDEReally enjoying the alternative trading options GLMR & MOVR present. (Not planning on sharing any trade ideas here, just results) :) Sorry.
As can see here, a lovely near 40% move in space of a couple of days, awaiting the final time for entry using OVERWATCH & TRENDMASTER SYSTEM.
BACK SOON WITH MORE RESULTS!
Long Moonriver (MOVR) vs USDMOVR is a L1 project on Kusama. With the L1 narrative this bullrun, I expect MOVR to perform well from here.
DOT and KSM hype is imminent this year and MOVR will fly with them IMO.
Tehnically it had a 70% correction and it's finding a bottom in the grey area. This is a good spot to buy and hold mid to long term.
Daily analysis on $MOVR- $MOVR current price is sitting on the daily support zone ($55-56$)
- Trend of RSI is on upward manner and also is approaching the trendline support zone
- For daily MACD, can see the daily histogram is getting smaller even though price is hovering around the same zone (Based on Jesse Livermore, this shows bearish trend is getting weaker)
Potential play that I will look into :
- Bought order @ $USD55 and make sell order at the $75-$77 region
- Sell order is inserted based on the confluence of Fibonacci extension (61.80%) and also the resistance zone
- SL set @ $51-$52 region (5% risk which is a must for all my trade)
- Risk : Reward ratio is 3:1
Disclaimer : For tutorial purposed only. Not a buy call.