It may be useful if you write about your SQL version.
Usually you can move tempdb using script:
use master
go
Alter database tempdb modify file (name = tempdev, filename = 'E:\Sqldata\tempdb.mdf')
go
Alter database tempdb modify file (name = templog, filename = 'E:\Sqldata\templog.ldf')
Go
But remember that your dir ('E:\Sqldata' in the sample above) has to have full NTFS rights for SQL service user. Maybe your new folder has no such rights? Try to verify this before more sofisticated troubleshooting.