MOVR Crypto giving hints for Breakout! MOVR Price Analysis

Moonriver (MOVR) is making a bullish pattern on the charts and could be in the line for a breakout in the price.

In this article, we will analyse the current price action along with the weekly analysis and the news roundup.

Table of Contents

MOVR Price Prediction

MOVR is currently trading at $24.62. The current market cap of MOVR is $215 million. The 24-hour trading volume of MOVR is $34.8 million.

Let’s have a look at the chart for trend analysis:

Trying to print symmetrical triangle or bullish pennant, have to wait for breakout, as per consolidation the breakout would be massive.

The token has lost 91% of its value since reaching it’s all time high value.

The chart shows that MOVR has been on a good uptrend lately and can have a good bullish run in the short term, if it manages a successful breakout.

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The RSI stands at 60, which indicates that it is currently not in the overbought category.

Some of the events that can impact the future of this crypto are:

The launch of the Moonbeam network on Polkadot, which is expected to happen in Q1 2024, according to the project roadmap. This will enable cross-chain interoperability and compatibility between Moonriver and Moonbeam, as well as other parachains and networks in the Polkadot and Kusama ecosystems. This will also increase the utility and demand for MOVR, as it will be used to pay for transactions and smart contracts on both networks.
The growth and adoption of the Moonriver network, which has already attracted over 100 projects and partners, according to the project website. Some of the notable projects and partners that are building or integrating with Moonriver are: Balancer, SushiSwap, Chainlink, Ocean Protocol, Human Protocol, and more. These projects and partners will bring more users, developers, and liquidity to the Moonriver network, as well as enhance its functionality and innovation.

Here are some of the latest news and events related to MOVR and the Moonriver network:

On 26 Jan 2024, Moonriver announced that it has successfully implemented the EIP-1559 fee model, which will make the network more efficient and predictable. The fee model will introduce a base fee and a tip for each transaction, which will adjust dynamically according to the network congestion. The base fee will be burned, which will reduce the supply and increase the value of MOVR. The tip will be paid to the collators, which will incentivize them to secure the network.
On 18 Jan 2024, Moonriver announced that it has integrated with Covalent, a unified API for blockchain data, to provide rich and reliable data for the Moonriver network. The integration will allow users and developers to access and analyze data from the Moonriver network, such as transactions, balances, events, logs, and more, using Covalent’s API. The integration will also enable users and developers to build and deploy DApps and tools on the Moonriver network, such as dashboards, wallets, explorers, and more, using Covalent’s API.

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