Core extends downward price move as selling pressure remains dominant
Core (CORE) is trading at $0.0105, marking a daily decline of 8.41%. The asset remains below its key moving averages, suggesting ongoing weakness in the near term.
0.0109
0.0123
Highlights
- CORE/USD fell 8.41% to $0.0105 with the price trading near the session low on increased volatility.
- The asset trades below key short and long-term moving averages, indicating sustained bearish pressure across all timeframes.
- Momentum signals confirm a strong bearish bias, with an 80% probability of further downside toward support at $0.0098 over the next two to three days.
Technical momentum weak as sell signals converge near resistance
Price is trading below the MA-20 ($0.0109), MA-50 ($0.0111), and MA-200 ($0.0246). The Ichimoku Kijun sits at $0.0109, acting as immediate resistance, while short-term support is found near $0.0098. Selling pressure is underscored by MACD and ADX both on sell signals and a negative Bull/Bear Power reading of -0.0002. RSI, Stoch RSI, and CCI are all neutral, signaling no extreme momentum, and the Awesome Oscillator is also neutral, confirming a lack of short-term reversal signals.
Further downside likely as downside risk outweighs potential recovery
Over the next 2–3 trading days, price is expected to fluctuate within a volatility band of $0.0098 to $0.0113. There is a high likelihood (over 80%) of further decline versus an upward move, which has less than a 20% probability. The baseline expectation is for continued sideways to downward action. A move above $0.0109 would be required to trigger a potential bullish scenario, while a breakdown below $0.0098 would open the door to deeper losses.
Earlier, analysts noted that Core was under sustained bearish pressure with technical signals favoring a downward bias. The current analysis reinforces this outlook, highlighting ongoing weakness and identifying a breakdown below $0.0098 as the key risk traders should monitor in the coming days.
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