Core price dips amid rising selling pressure

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Core slips 12.15% today to $0.0319

Highlights

CORE/USD remains under sustained selling pressure, trading below all major moving averages and lacking support at current levels.
Momentum indicators signal persistent bearishness, with oversold conditions but minimal evidence of strong buyers entering the market.
Outlook for the next five sessions is bearish within a $0.03 to $0.04 range, with a high probability of further downside if $0.03 breaks.

Anton Kharitonov, expert at Traders Union, notes that CORE is demonstrating clear technical weakness. The price remains below all major moving averages. No news is supporting sentiment or demand on recent dates, reinforcing the ongoing lack of confidence. Indicators like MACD and ADX confirm persistent downside pressure and limited recovery prospects. "Until CORE reclaims at least the $0.0416 resistance, I see no foundation for a trend reversal or meaningful accumulation," he warns.

Viktoras Karapetjanc, expert at Traders Union, keeps a constructive tone despite current challenges for CORE. He points out that the wider crypto market may soon offer renewed opportunities, even though short-term signals look bearish. Karapetjanc highlights that periods of oversold technicals can attract new buyers and rekindle positive sentiment. "With volatility back in play and key levels in focus, CORE still presents setups for patient traders who seek value below $0.04," he says.

Bearish momentum persists as indicators confirm oversold conditions

CORE/USD is now trading below all key moving averages, including the 20-day ($0.0388), 50-day ($0.0361), and 200-day ($0.0932), reflecting persistent short-, medium-, and long-term selling pressure. The nearest dynamic resistance is the Kijun line from the Ichimoku indicator at $0.0416, with no long-term support levels indicated in the current price zone.

Momentum remains weak as indicated by both the Moving Average Convergence Divergence (MACD) and the Average Directional Index (ADX) on the daily timeframe, with MACD signaling further downside and ADX showing only modest trend strength. The Relative Strength Index (RSI), Stochastic RSI, and Commodity Channel Index (CCI) all signal an oversold condition, while Bull/Bear Power (BBP) indicates sellers continue to dominate intraday momentum despite a “buy” forecast due to its near-zero value. The pair has dropped 12.15% today, opening with a moderate downside gap of about $0.0031 and currently trading near the session lows as intraday volatility stands at 6.65%. The strong move down is in line with bearish momentum readings and underscores continued pressure after the open.

Earlier, analysts noted that Core was experiencing persistent bearish pressure amid ongoing weakness in key technical indicators. The latest data further reinforces this negative outlook, with a decisive move below the $0.03 level now emerging as the critical downside risk to monitor in the days ahead.

Source of Data: CORE Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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