Moonriver (MOVR) Is Going Down Shaping A Bearish Trend: What’s Next?

Moonriver price is down by 1.11% in the last 24 hours. Its last price was $247.58. The MOVR token has a daily flag pattern. This pattern usually indicates that an upside breakout is in the offing, but the trend will likely remain bearish. Moonriver is a parachain on Ethereum that’s fully compatible with Kusama. Its decentralized nature and developer-friendly approach make it an ideal fit for projects. It allows developers to create decentralized networks with minimal changes to Moonriver’s existing infrastructure. It does so by implementing a full EVM implementation and a Web3-compatible API.
The MOVR token broke from its crucial support level at $280 on October 11th. It has since bounced back to test its valid resistance level at $225. This network is intended to be a companion to Moonbeam, where it will provide a permanent incentivized canary network. It will be tested and verified under real conditions.

Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.