The price of the distinctive code for the -2 L2 (L2) has increased by 12 % over the past 24 hours, making it the highest winner in the market. This two -digit gathering comes after World Liberty Financial acquired on the DEFI Defi platform supported by Donald Trump on $ 2 million of distinctive symbols on Tuesday.
However, with the constant declining bias against the move, this gathering may be short -term. This is the reason.
Distinguished symbol mutations for the movement of movement amid Trump’s purchase
On Tuesday, the Defi Defi World Liberty Financial platform bought Trump for $ 2 million of distinctive symbols. According to the thumbs of intelligence, the purchase process occurred in Multiple batches During the American morning hours, with the stability of the first deal at 14:22 world time.
After a few minutes, at 14:48 UTC, a prominent encryption account on X DB I mentioned The movement is one of the Blockchain networks currently in discussions with the Ministry of Government Efficiency led by Illon Musk.
These events led to the increase in the value of Move even after the co-founder of the movement, Rushi Manche, explained that the Layer-2 did not have an official connection or communication with DOGE.
“The feverish morning as usual and all support from everyone. (I) wants to explain that there is nothing from the Movement Labs offices or the growth team has via DOGE offices – all encryption is the very early stage in all fields and the policy is still a continuous discussion throughout the administration, “Manche books On x.
Move the marches, but there is hunting
Although Move is currently outperforming the best 100 encryptions, its price gains may not last, as the data on the series reveals that the declining bias against it is still important.
For example, the financing rate has decreased to its lowest level since January 7, indicating a rise in demand for short positions. At the time of the press, this is by -0.084 %. The financing rate is a periodic fee that is exchanged between long and short traders in permanent future contracts. It is designed to maintain contract prices compatible with the immediate market.
The negative financing rate means that traders who pay long traders, indicating that the market morale is declining despite the high prices. This indicates that the high movement is driven by short pressure instead of strong organic demand, which is suspicious of the sustainability of the assembly.
Moreover, Move continued to record external flows despite the high prices. According to Coinglass, Altcoin has seen four days of successive external flows, which total $ 19 million.
As of the writing of these lines, the external flows of Move Spot Markets on Wednesday reached $ 440,470, indicating that the market participants sell their symbols for profit.
Prick forecast
The risks of their last gains move if the profit achievement activity continues. In this case, the L2 code price can decrease to $ 0.71. If this support level fails, it may decrease to $ 0.55.
On the other hand, if the actual demand to move nails, more than $ 0.87 may break and climb about $ 1.08.
Disintegration
In line with the guidance of the confidence project, this price analysis article is for media purposes only and should not be considered financial or investment advice. Beincrypto is committed to accurate and unbiased reporting, but market conditions are subject to change without notice. Always perform your research and consult with a professional before making any financial decisions. Please note that the terms, conditions, privacy policy have been updated and the evacuation of responsibility.
