Will CORE avoid deeper losses amid ongoing seller pressure?

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Core slides 7.81% today to $0.0122

Highlights

CORE/USD remains under short-term and medium-term pressure, trading below key moving averages and facing persistent bearish conditions.
Momentum indicators across multiple timeframes show strong sell signals, with RSI and other oscillators in oversold territory and sellers dominating intraday action.
Price is at $0.0122, down 7.81% for the day, with a next 2 to 3 session range projected at $0.011 to $0.0134 and a high probability of further downside.

Multiple sell signals as CORE breaks key support levels

On the hourly chart, CORE trades below the MA-20 at $0.0134, the MA-50 at $0.0136, and remains well under the long-term MA-200, set at $0.0258. The Ichimoku Kijun sits at $0.0133, acting as immediate resistance. Momentum indicators show broad weakness: MACD and ADX both flag a sell bias, RSI is at 31.6, and both Stoch RSI and CCI are in oversold territory. Bull/Bear Power confirms that sellers dominate intraday momentum, while the Awesome Oscillator is also aligned with the downside, evidencing persistent weakness across timeframes.

Downside risk elevated amid tight trading range outlook

In the near term, the expected trading range for CORE is between $0.011 and $0.0134. The probability of an upside move is very low, while continued downside carries a high likelihood. Price action is most likely to remain range-bound between intraday support and resistance, with a bullish reversal scenario contingent on overcoming resistance at $0.0133. If price slips below $0.011, further losses could be triggered.

Anton Kharitonov, expert at Traders Union, sees persistent weakness in CORE as technical indicators remain decisively bearish. He believes there is little chance for a bullish reversal unless resistance at $0.0133 is reclaimed. Downside risk prevails with sellers clearly in control. "As long as CORE stays below the key moving averages and momentum remains negative, I will avoid any long positions here."

Earlier, analysts noted that Core (CORE) remained entrenched in a broad bearish trend, with technical signals indicating persistent selling pressure. The current analysis reinforces this negative outlook, with near-term trading likely to stay confined between $0.011 and $0.0134 as the probability of further downside remains elevated.

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.