SharePoint Online: Rename Folder using PowerShell

#Load SharePoint CSOM Assemblies
Add-Type -Path "C:\Program Files\Common Files\Microsoft Shared\Web Server Extensions\16\ISAPI\Microsoft.SharePoint.Client.dll"
Add-Type -Path "C:\Program Files\Common Files\Microsoft Shared\Web Server Extensions\16\ISAPI\Microsoft.SharePoint.Client.Runtime.dll"

#Variables
$SiteURL="https://crescent.sharepoint.com"
$FolderURL="/Project Documents/Active" #Relative URL
$FolderNewURL="/Project Documents/InActive"

Try {
    $Cred= Get-Credential
    $Credentials = New-Object Microsoft.SharePoint.Client.SharePointOnlineCredentials($Cred.Username, $Cred.Password)

    #Setup the context
    $Ctx = New-Object Microsoft.SharePoint.Client.ClientContext($SiteURL)
    $Ctx.Credentials = $Credentials

    #Get the Folder
    $Folder = $Ctx.Web.GetFolderByServerRelativeUrl($FolderURL)
    $Ctx.Load($Folder)
    $Ctx.ExecuteQuery()

    #Rename Folder
    $Folder.MoveTo($FolderNewURL)
    $Ctx.ExecuteQuery()

    Write-host -f Green "Folder has been renamed to new URL:"$FolderNewURL
}
Catch {
    write-host -f Red "Error Renaming Folder!" $_.Exception.Message
}