Core Scientific stock price forecast: $26.50 resistance in focus as CORZ surges 10.23%

Traders Union
All News
Financial News
Core Scientific soars 10.23% to $24.46

Highlights

Core Scientific will acquire Polaris DS energy assets for an initial $421 million, securing 440 MW of power capacity and long-term energy contracts.
This acquisition expands Core Scientific's physical footprint in Oklahoma, strengthening its ability to scale adjacent data center operations and computing infrastructure.
CORZ trades with strong bullish momentum in an overbought state, with next week's expected range between $22.00 and $26.50, favoring continued consolidation or an upside test.

Expansion drive fuels investor interest on new energy asset acquisition

Core Scientific has signed a definitive merger agreement to acquire energy assets from Polaris DS LLC for an initial $421 million in cash, with an additional contingent payment of up to $40 million tied to electric capacity milestones. The deal provides the company with approximately 40 acres in Muskogee, Oklahoma, an on-site substation, and long-term power agreements, supplying up to 440 MW of continuous electricity for adjacent data center operations. This strategic expansion unlocks significant potential for scaling computing infrastructure, directly attracting investor interest by enhancing growth prospects and operational efficiency.

Bullish signals strengthen as price exceeds resistance and indicators overheat

On the technical front, the price remains well above key levels, including SMA-20 at $19.88, SMA-50 at $17.67, and SMA-200 at $16.84, while the Ichimoku Kijun sits at $17.99, now defining immediate support. The daily chart shows a strong momentum setup, with the MACD generating a solid 'Buy' signal, and the ADX confirming ongoing bullish strength. RSI stands at 70.75 and CCI at 141.27, both in overbought territory, alongside a BBP reading of 2.07, underscoring buyer dominance. Stoch RSI and CCI highlight further overbought conditions, while the Awesome Oscillator remains neutral. A gap higher at session open ($23.55 versus $22.19 prior close) followed by trading near the session high signals persistent buying pressure amid heightened volatility.

Consolidation likely as high probability of upside persists

Over the coming week, the expected price range is $22.00 to $26.50, reflecting a volatility band around current levels. The probability of an upward move remains above 80%, with downside risk seen as minimal based on ongoing trend signals. Most likely, the price will consolidate between these boundaries, though a breakout above resistance could see a test of the upper extreme, while a breakdown below support would require a material shift in momentum.

Viktoras Karapetjanc, expert at Traders Union, sees Core Scientific’s acquisition as a catalyst for further growth. He believes securing 440 MW of energy and expanding infrastructure directly boosts long-term prospects and investor sentiment. Momentum and technicals support the bullish move, with minimal downside risk. "The combination of strategic M&A and persistent buying pressure points to a strong outlook, and I expect continued interest above $24.00 in the near term."

Previously it was reported that Core Scientific was accelerating its transition from bitcoin mining to AI and high-density compute infrastructure through the acquisition of Polaris DS. The current technical setup and advancing transaction details reinforce the company's transformation narrative, with the $26.50 level now emerging as a critical threshold for potential continuation of bullish momentum.

Source of Data: CORZ 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.