MOVE, the token behind Movement Labs, appears to be holding steady as the platform launches its airdrop claim website.
The token is trading at $0.1685 at the time of writing, down 7% in the last 24 hours and over 30% for the month. Movement (MOVE) has lost nearly 88% of its value since hitting its peak of $1.45 in December 2024. While price action remains weak, the launch of Movement’s long-awaited airdrop has sparked a brief uptick in trading activity.
MOVE’s trading volume increased by 58% to $43.2 million in the last day, indicating that the community is once again taking notice. Derivatives trading also spiked, as per Coinglass data, with volume rising 118% to $152 million. However, open interest dipped slightly, which may mean traders are taking quick positions rather than betting long-term.
On May 26, Movement Industries Foundation announced that the mainnet phase of its MoveDrop airdrop is officially live. Eligible users can now connect their wallets and claim their MOVE tokens through the Movement Network. This airdrop, which aims to reward early supporters and draw attention to the network’s applications, represents a significant milestone for the ecosystem.
Users who claim their tokens can participate in various programs and features across the Movement ecosystem. That includes a DeFi rewards campaign promising up to 250 million MOVE in incentives, interactive NFT collections, and new applications offering trading, yield opportunities, and AI tools. Movement is leaning heavily into community engagement to turn the page after recent turbulence.
On the technical side, MOVE is consolidating but has not yet confirmed a reversal. The Relative Strength Index, which is currently at 35, is getting close to but not yet in oversold territory. The MACD has begun to flatten, indicating a possible change in short-term momentum, although it is still negative. Momentum indicators, on the other hand, show a slight improvement, which could indicate that selling pressure is waning.
However, all key moving averages continue to slope downward. Both the 20-day EMA at $0.190 and the 10-day EMA at $0.181 are above the current price levels and serve as immediate resistance. Bulls would need to recover the 50-day EMA at $0.239 to change the medium-term trend. Until then, the downtrend remains intact.
In a bullish scenario, MOVE would need to break above the $0.19 zone, reclaiming short-term moving averages and confirming rising momentum. This might pave the way for a return to the $0.22–$0.25 range, particularly if spot demand increases together with a rise in ecosystem participation. Any rally would require sustained volume above the current levels.
In a bearish scenario, MOVE could fall below $0.16, which could cause the token to retest recent lows and perhaps move toward psychological support at $0.15 or below. With weak trend strength and resistance overhead, a breakdown remains a clear risk if new buy pressure doesn’t materialize.
