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# MOVE Increases by 65% as Large Holders Collect After $32 Million Repurchase Strategy
Following a split with a harmful market participant, MOVE has risen to its highest point in a couple of months, sparking renewed interest from substantial backers. Toncoin (TON) Value Forecast for March 26th
According to crypto.news, Movement (MOVE) increased by 32% during Asian trading hours on March 26, hitting a daily peak of $0.594 and a total market value of $1.36 billion. During this time, its daily trading volume also increased sevenfold to around $829 million.
A large portion of today’s gains comes from the Movement Network Foundation’s declaration that it has recovered about $38 million USDT from a market participant now prohibited from operating on Binance.
Initially, this entity was brought in to help stabilize prices and support healthy trading by placing purchase and sell orders, thereby providing liquidity for MOVE on the platform. However, the market participant turned malicious after dumping 66 million MOVE tokens shortly after the token’s listing on Binance, with few purchase orders placed.
Binance flagged this behavior as a “market violation,” froze the market participant’s profits, and removed it from its platform.
The Movement Foundation has ended relationships with the company and has pledged the full $38 million to a three-month repurchase program called the “Movement Strategic Reserve.” Essentially, they will purchase MOVE from the open market to reduce selling pressure and inject more liquidity into the ecosystem.
The repurchase news has triggered a surge of whale accumulation.
On March 24, wallets holding between 100 million and 1 billion MOVE tokens held approximately 553 million tokens. As of today, that number has increased to 953 million, meaning whales have acquired approximately 400 million MOVE in the past 48 hours, worth over $185 million at current prices.
On-chain metrics are also very robust. Daily active addresses have increased 265%, and social sentiment has become positive in the past day.
## MOVE Price Evaluation
On the regular timescale for MOVE/USDT, MOVE has emerged from a decreasing wedge configuration that has persisted for several months. This is usually regarded as a confident turnaround indication, implying a possibly considerable upswing ahead.
Considering these encouraging indications, MOVE could surge by 65% to the mental obstacle stage of $0.90, which has been a crucial impediment for this altcoin. A breach beyond that stage could push it to its annual peak of $1.12.
Furthermore, the Cash Movement Index is at 65, signifying escalating purchasing stress, but with space to expand before attaining overbought area.
Both the MACD and Supertrend traces are inclining upwards, verifying that impetus is transferring towards the optimists and proposing additional profits in the near future.
Nonetheless, if MOVE declines beneath the descending trendline of the wedge, the configuration could be negated. In that instance, the altcoin’s worth could plunge to $0.37.
Please note: This is not monetary guidance. The data and resources on this page are exclusively for educational objectives.
