What's behind Core's latest 12.1% price pullback?

Traders Union
All News
Crypto
Core slides 12.13% today on selling

Highlights

CORE/USD trades below major moving averages and remains under sustained downside pressure across all timeframes.
Momentum and intraday indicators show a strong sell bias with neutral readings on overbought and oversold levels.
CORE/USD is projected to trade between $0.0091 and $0.0128 with elevated risk of a further downward move.

Anton Kharitonov, expert at Traders Union, believes CORE is locked in a clear bearish cycle. Price action remains weak as it trades well below all moving averages. The lack of news support leaves sellers in control and undermines any recovery potential. Technical structure favors the downside, with momentum indicators reinforcing persistent negativity. "With CORE showing no sign of reversing the trend, any break under $0.0091 could accelerate losses further," he warns.

Viktoras Karapetjanc, expert at Traders Union, sees volatility as creating new setups for attentive traders. While selling pressure dominates, the wide trading band between $0.0091 and $0.0128 signals potential opportunity if momentum shifts. He remains confident that periods of strong movement often precede corrective phases and dynamic entries. "CORE's bearish tone may open the way for quick rebounds once sentiment improves," he states.

Sholanke Dele, market strategist, notes CORE's ongoing vulnerability amid negative sentiment and technical breakdowns. He is critical of the lack of bullish catalysts or support from recent developments. Dele cautions that downside risk remains elevated as the price approaches $0.0091. "Without clear drivers, I see little to support a turnaround in the near term," he concludes.

Downside momentum confirmed as sellers hold below technical floors

CORE/USD is trading below the 20-day, 50-day, and 200-day moving averages ($0.0157, $0.019, and $0.0253 respectively), reflecting persistent control by sellers across all time frames. The pair remains under pronounced downside pressure with a near-term ceiling at $0.0116 and a floor at $0.0091, while the alignment of the 50-day below the 200-day moving average confirms a bearish environment. MACD and Average Directional Index (ADX) indicate sustained downside momentum, and Bull/Bear Power (BBP) is negative, affirming intraday selling dominance. The Relative Strength Index (RSI), Stochastic RSI, and Commodity Channel Index (CCI) remain neutral, suggesting a lack of extreme conditions, and the Awesome Oscillator is likewise neutral. The recent downside gap of 3.05%, and a price drop of $0.0016 or 12.13% near session lows with 6.67% intraday volatility, illustrate strong selling and a broad bearish tone.

Earlier, analysts noted that Core had shifted into a sustained bearish trend, with technical indicators pointing to continued downside momentum. The current analysis reinforces this negative outlook, underscoring the importance of monitoring the $0.0091 support as a potential trigger for further declines in the near term.

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

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.