Why is Core falling today? Seller pressure weighs on outlook, key support levels to watch

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Core slides 7.09% today to $0.0185

Highlights

CORE maintains a clear bearish trend, trading below key moving averages on both intraday and daily timeframes.
Technical indicators confirm dominant selling pressure, with negative momentum and minimal chance of an imminent trend reversal.
Price is expected to remain within the $0.0168 to $0.0202 range over the next few days, with a 79% probability of further downside.

Bearish momentum and resistance highlighted by multiple technical signals

On the technical front, CORE remains under its MA-20 ($0.0186) and MA-50 ($0.019) on the 1-hour chart and is positioned well below the long-term MA-200 ($0.0557) on the daily timeframe. The Ichimoku Kijun at $0.0192 stands out as near-term resistance. Momentum indicators reinforce the prevailing bearish trend: MACD signals a strong sell while ADX confirms sustained selling activity. RSI is at 41.31, consistent with bearish momentum, and both CCI and Bull/Bear Power align with continued downside pressure. Stoch RSI is flashing an overbought condition, implying potential for short-term volatility or consolidation, while the Awesome Oscillator is neutral, offering no additional direction.

Downside favored as volatility shapes near-term trading range

Over the next two to three trading days, CORE is expected to remain within a range of $0.0168 to $0.0202 given current volatility. The probability of a move higher is low at 21%, with a downside continuation favored at 79%. A break above $0.0192 would open the door for a momentum shift to the upside, but a drop below $0.0168 exposes the asset to further downside risk.

Anton Kharitonov, expert at Traders Union, sees CORE trading under pressure with bearish technical signals prevailing. He notes the lack of fundamental drivers and points out that key moving averages and momentum indicators reinforce a negative bias. Kharitonov remains cautious and highlights that only a break above $0.0192 could change the outlook. "Until CORE reclaims $0.0192, I see little reason to expect a sustained rebound here."

Earlier, analysts noted that Core was entrenched in a persistent bearish trend with sellers maintaining firm control. The current analysis not only reaffirms this negative outlook but also highlights that any sustained move above $0.0192 could signal a reversal, while a breakdown below $0.0168 would increase downside risk for traders.

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

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.