Core plunges over 10% as technical momentum drives selloff

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Core drops 10.12% today to $0.0153

Highlights

CORE/USD trades below all key moving averages, confirming a bearish trend across short and long timeframes.
Momentum indicators and oscillators predominantly show strong sell conditions and oversold territory, indicating sustained weakness.
CORE/USD is forecast to trade between $0.0133 to $0.0172 over five days, with over 80% probability of further decline.

Anton Kharitonov, expert at Traders Union, notes that CORE has suffered a sharp selloff with little sign of relief. He stresses that persistent bearish signals across technical indicators leave CORE exposed to further downside. Lack of supportive news confirms the absence of catalysts to revive demand in the near term. The expert highlights the dominance of sellers as a key weakness. "With the trend firmly bearish and buyers sidelined, there is little justification to expect a sustained reversal at these levels," Kharitonov warns.

Viktoras Karapetjanc, expert at Traders Union, sees the current volatility as setting a foundation for eventual recovery. He believes oversold conditions could trigger bargain hunting and fresh opportunities for agile investors. Despite missing fundamental news, Karapetjanc remains confident that market dynamics could enable a positive shift. "These levels provide a strong base for future upside once sentiment stabilizes and broader risk appetite returns," he asserts.

Parshwa Turakhiya, analyst, observes that both sentiment and technical factors are stacked against CORE in the short term. He points out the high volatility and oversold readings as signs traders should remain nimble. Turakhiya suggests momentum may create fleeting trading windows for quick gains or risk management. "I recommend short-term traders watch for sharp intraday moves — but keep stops tight until a clear trend emerges," he advises.

Oversold readings deepen as bearish trend tests major support

CORE/USD is trading below the 20-day ($0.0181), 50-day ($0.02), and 200-day ($0.026) moving averages, indicating persistent selling pressure across short- and long-term timeframes. The nearest resistance stands at $0.0158, with the weekly support at $0.0147, and the MA-50/MA-200 relationship confirms a bearish trend. Downside momentum is affirmed by strong sell signals in the MACD and ADX, while the RSI at 37.59 and CCI at -111.95 indicate oversold conditions. The Stochastic RSI also signals further weakness, BBP is neutral at 0, and the AO remains uncommitted. Intraday volatility is high at 11.27%, with intraday trading near session highs but dominated by initial downside gaps.

Earlier, analysts noted that Core was facing persistent downside pressure and elevated risk amid broadly bearish technical signals. The latest data further reinforce this negative outlook, with sustained technical weakness suggesting traders should closely monitor $0.0133 as a crucial support level for potential downside extension.

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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