Core technical analysis: Selloff accelerates after weak momentum

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Core drops 6.9% today to $0.0177

Highlights

CORE/USD trades decisively below major moving averages, indicating persistent bearish momentum across all timeframes.
Technical signals, including MACD and ADX, register strong sell readings while momentum indicators confirm oversold conditions.
Price consolidates near the daily low at $0.0177 with further downside likely unless $0.0185 resistance is broken; anticipated short-term range is $0.0169 to $0.0183.

Negative momentum reinforced as resistance holds and indicators turn bearish

CORE/USD is currently trading below the MA-20, MA-50, and significantly under the MA-200. The Ichimoku Kijun is set at $0.0185, serving as overhead resistance. Momentum indicators confirm negative sentiment: MACD is on Strong Sell, ADX displays a Sell, and RSI reads 36.76, signaling sell conditions. CCI is deep in oversold territory, Stoch RSI is Neutral, and Bull/Bear Power shows persistent seller dominance intraday. The price is consolidating near the daily low amid heightened volatility, with the Awesome Oscillator (AO) remaining Neutral and no notable divergence visible between oscillators and trend indicators.

Consolidation likely as downside risk overwhelms recovery odds

Over the next two to three sessions, the expected price range stands at $0.0169 to $0.0183, representing the typical volatility band relative to current levels. The probability of a move higher is very low, while odds strongly favor further downside. The base case is for the price to consolidate within this corridor; a bullish scenario would require a confirmed breakout above the $0.0185 resistance, whereas a break below $0.0169 would signal renewed weakness and additional losses.

Anton Kharitonov, expert at Traders Union, believes CORE remains firmly under pressure with sentiment and technicals pointing to persistent downside risk. He sees little evidence for a reversal as key indicators stay negative and the price consolidates below the main resistance of $0.0185. Base scenario is for range trading between $0.0169 and $0.0183 over the next sessions. "With negativity dominating the chart, I remain defensive unless CORE breaks decisively above $0.0185."

Earlier, analysts noted that Core remained under sustained bearish pressure with little evidence of trend reversal. Fresh technical data in the current session reinforces this view, highlighting downside risks with $0.0169 emerging as the critical support level to watch for additional losses.

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.