Coinbase Delists MOVE Token, Price Tanks 19%

Crypto exchange platform Coinbase (NASDAQ:COIN) will be suspending trading for Movement (MOVE) token on May 15, the company announced yesterday.

The suspension will take effect at approximately 2:00 PM ET on May 15 and will apply to Coinbase.com, Coinbase Exchange, and Coinbase Prime.

Delisting follows a routine compliance review by Coinbase.

"We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on recent reviews, we will be suspending trading for Movement (MOVE) on May 15, 2025, at approximately 2:00 PM ET," the company said.

In response to the announcement, MOVE order books have been shifted to limit-only mode. In this mode, users can place or cancel limit orders but not market trades.

This move has already sparked significant activity in $MOVE’s trading, with a 93% surge in trading volume, reaching $213.01 million in just 24 hours.

MOVE price analysis: Key levels to watch

As of reporting earlier today, MOVE is currently trading at $0.1973, showing a decrease of nearly 20% in the last 24 hours.

This sharp drop follows a period of relative stability where the token hovered between $0.240 and $0.250. The price decline seems to coincide with Coinbase’s delisting news, which might be triggering panic among holders.

This decline has brought the token's support level of $0.208 into play, with further bearish momentum potentially leading to a test of the psychological barrier at $0.200.

On the other hand, resistance levels are present at $0.2415 and $0.250-$0.255, which will be crucial if the token attempts a recovery.

The MACD indicator is beginning to show early bullish signs, with the MACD line crossing above the signal line. However, conflicting price movements cast doubt on the strength of this signal.

Meanwhile, the RSI stands at 30.3, indicating that the token is close to being oversold. This could suggest a short-term bounce is likely if supported by increased volume.

MOVE price prediction for May 2025

Despite the current bearish tone surrounding the MOVE token, technical patterns suggest a possible reversal in May 2025.

Coincodex forecast models estimate the MOVE token could average around $0.496773 during the month.

Projections show a potential price range between $0.24743 for a low and a high of $0.832815.