Will Core break $0.0108 support as downside pressure persists?

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Core drops 7.72% today to $0.0121

Highlights

CORE/USD trades below key moving averages, facing sustained downside risk across short, medium, and long timeframes.
Bearish momentum dominates as MACD and ADX confirm sellers control with volume high and Awesome Oscillator trending lower.
Projected 2 to 3 day range stands at $0.0108 to $0.0127, with further downside more likely than a rebound unless $0.0128 is breached.

Bearish momentum intensifies as multiple indicators signal selling exhaustion

On the hourly timeframe, CORE is below both the MA-20 at $0.0127 and the MA-50 at $0.0128, with further weakness signaled by its position well under the MA-200 at $0.0253 on the daily chart. The Ichimoku Kijun provides resistance at $0.0128, while MACD and ADX continue to show bearish momentum. Bull/Bear Power is negative, indicating sellers remain in control intraday. The RSI is neutral, but both the Stoch RSI and CCI are deep in oversold territory, highlighting increased selling exhaustion even as the overall momentum remains negative. The Awesome Oscillator corroborates a downward bias, and a pronounced divergence exists between a neutral RSI and oversold CCI/Stoch RSI, reiterating the persistence of downside momentum.

Downside favored as consolidation range constrains rebound prospects

Over the next two to three days, price action is expected to consolidate within a volatility band from $0.0108 to $0.0127. The balance of probabilities points strongly toward continued downside, with a rebound scenario considered less likely based on present indicator conditions. Any recovery would require a sustained move above the $0.0128 resistance, while a break below $0.0108 would open the door to further declines.

Anton Kharitonov, expert at Traders Union, sees Core (CORE) trading under heavy bearish pressure with no clear signs of reversal. He notes that technical indicators remain overwhelmingly negative and that the price is unable to recover above key resistance levels. Kharitonov remains cautious due to the lack of supportive news flow and persistent downside momentum. "As long as CORE stays trapped below $0.0128, I see no basis for optimism and prefer to stand aside until a clear reversal emerges."

Earlier, analysts noted that Core was displaying generally positive short-term technical momentum, with buyers maintaining cautious strength. The current shift to sustained downside pressure and oversold readings marks a clear change in the technical outlook, positioning the $0.0108 support as a critical level for traders to monitor in the coming sessions.

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.