MOVE Posts a 47% Intraday Wick on 9.8x Volume — Biggest Rejection Candle in the Index
Movement Protocol printed one of the most extreme rejection candles in the 199-asset index on April 19: the intraday high reached $0.02817 — 47.4% above the closing price of $0.01911 — before collapsing back to close near the session open. Volume hit 5.73 billion, a new 90-day record surpassing the prior record set just the day before, and 9.8x the 90-day average, signalling exhaustion with supply overwhelming demand at higher levels.
Supporting 6 queries
To surface this insight, Baselight ran 6 queries across its structured data. Each one is reproducible — open it, read the SQL, and rerun it yourself.
Conclusion
MOVE Apr 19: open = $0.01997, high = $0.02817, close = $0.01911; upper wick = +47.4% above close; intraday range = 49.2%; volume = 5,732,300,920 vs 90d avg = 582,750,397 (9.8x); prior 90d volume max = 4,580,828,576 (Apr 18 — itself a record). MOVE 90d close high = $0.0361; pct from 90d high = -47.1%. Two consecutive record-volume sessions culminating in full price rejection.