The post MOVR Eyes $4.50 Rally After 25% Correction Shakeout appeared on BitcoinEthereumNews.com.

Rongchai Wang
Apr 18, 2026 11:35

Moonriver’s violent pullback to $2.31 creates a high-probability entry point above all major moving averages, with technical patterns pointing toward $4.50 within two weeks if support at $2.20 holds.

The Current Picture Moonriver (MOVR) just delivered a brutal reality check with a 25% single-day drop that brought price down from recent highs near $3.00 to current levels around $2.31. Yet beneath the surface carnage lies a potentially bullish setup that contrarian traders should examine closely. The token remains positioned well above its key moving averages despite the selloff. The 200-day moving average sits at $2.50, providing a critical support floor that MOVR has respected throughout its recent climb from sub-$1.35 levels just weeks ago. Price action continues to hold above shorter-term averages at $1.63 (7-day) through $2.10 (50-day), suggesting the underlying uptrend structure remains intact. Technical Landscape The RSI reading of 68.93 places MOVR in neither overbought nor oversold territory—instead occupying that middle ground where explosive moves often originate. The recent correction appears to have cleared out weak hands while keeping the technical foundation solid.

Hourly candlesticks (about 96 bars), same endpoint as our cryptocurrency price pages. Numbers below refresh from 1-minute klines. Full MOVR price, calculator & analysis
Volume patterns tell an interesting story. The 82% drop in derivatives open interest over the past 24 hours likely reflects massive position unwinding as prices spiked higher, forcing both short covering and profit-taking. This clearing of crowded positions often precedes the next significant directional move. Current derivatives positioning shows top traders maintaining a slight long bias at 51.7%, while funding rates remain neutral at 0.0050%. This balanced positioning suggests neither euphoria nor capitulation—conditions that historically favor explosive breakouts rather than grinding sideways action. Key…

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Filed under: News - @ April 18, 2026 3:23 pm