- Movement (MOVE) surged after major investment firms tREX and Osprey Funds filed for the first ETF focused on MOVE token, potentially providing institutional investors regulated exposure to Movement's ecosystem.
- Movement Network Foundation successfully launched its Public Mainnet Beta with $250 million in Total Value Locked (TVL), enabling full permissionless smart contract deployment and Ethereum settlement.
- MOVE broke out of a falling wedge pattern after bouncing off $0.35 support and surpassing $0.49 resistance, currently trading around $0.52.
- Technical analysis suggests MOVE could reach $0.84 (56% upside) if it breaks above the 50-day moving average, with immediate resistance at $0.61.
Date: Monday, March 10, 2025 | 03:28 PM GMT
In a market where most altcoins are struggling to gain traction, Movement (MOVE) has managed to stay in the green, defying the broader downtrend. This price surge follows two major developments—ETF filings by major investment firms and the successful launch of Movement’s Public Mainnet Beta.
ETF Filings
According to an official press release by Movement Network, asset management firms tREX and Osprey Funds have filed for a new exchange-traded fund (ETF) focused on MOVE. If approved, this ETF would be the first to offer traditional financial exposure to the token, providing institutional investors with a regulated way to invest in Movement’s ecosystem.
Public Mainnet Beta Launch
The biggest catalyst behind MOVE’s strong price action is the successful launch of the Movement Network Foundation’s Public Mainnet Beta. The network launched with a staggering $250 million in Total Value Locked (TVL), ensuring immediate utility and liquidity from day one.
The Public Mainnet Beta unlocks full permissionless smart contract deployment, seamless user onboarding, and Ethereum settlement. This means developers and users can fully access the benefits of the Move language and MoveVM for building next-generation decentralized applications. Users can also connect to the network via the canonical Movement bridge, powered by LayerZero, further expanding interoperability.
What’s Next?
Today’s announcement pump has injected an upside move in the falling wedge breakout of the MOVE token, which is yet to make a strong move. The token recently bounced off strong support at $0.35, aligning with the 200-day Moving Average (200MA), and successfully broke out of the wedge by surpassing the $0.49 resistance level.
At the time of writing, MOVE is trading around $0.52. If the token maintains its bullish momentum, the next critical level to watch is the 50-day Moving Average (50MA). A clean break above this level would confirm an extended uptrend, potentially pushing the price toward $0.61, with the next major resistance target at $0.84—a 56% upside from current levels.
The coming days will be crucial for MOVE as traders watch for confirmation of the breakout. If bullish momentum continues, the token could be entering a strong recovery phase, setting the stage for higher highs in the months ahead.
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