Core Scientific stock slides as seller pressure dominates following sharp intraday move

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Core Scientific drops 9.75% to $13.93

Highlights

CORZ/USD trades below key moving averages on multiple timeframes, showing strong bearish pressure and persistent downside trend.
Technical indicators present a mixed picture, with strong selling momentum but also signs of short-term exhaustion after a sharp intraday drop.
Price is expected to range between $13.27 and $15.87 in the next 2 to 3 days, with further declines much more likely than a short-term up move.

Selling momentum strengthens as mixed indicators highlight resistance

On the technical front, CORZ is currently trading below the MA-20 at $15.16 and MA-50 at $15.7 on the H1 chart, with the price also remaining under the MA-200 at $19.82. The Ichimoku Kijun level at $14.98 is identified as immediate resistance. MACD signals strong selling momentum, and ADX confirms a prevailing sell bias, while RSI shows a buy signal. Both Stochastic RSI and CCI are overbought, suggesting short-term exhaustion in the recent bounce. Intraday movement is defined by a sharp drop to $13.93, and Bull/Bear Power reflects buyer activity leading the latest intraday momentum, although technical indicators remain mixed.

Further declines favored as volatility risks dominate outlook

For the next 2–3 trading days, CORZ is likely to trade within a volatility band between $13.27 and $15.87. The probability of a short-term upward move is very low, with a much higher likelihood of continued declines and a potential breakdown below $13.27. A reversal higher would require a breakout above the $14.98 Kijun resistance, but the baseline scenario sees price action oscillating between established support and resistance in a volatile environment.

Anton Kharitonov, expert at Traders Union, notes that Core Scientific remains under firm technical pressure, with price action below all key moving averages. He sees persistent weakness, as selling momentum dominates and most oscillators suggest limited upside potential. Volatility is likely to persist between $13.27 and $15.87, with a breakdown more probable than a reversal. "Unless $14.98 is reclaimed, I remain defensive and expect further downside risk for CORZ."

Earlier, analysts noted that Core Scientific was experiencing persistent technical weakness and heightened downside risks. The latest analysis reinforces this bearish trend, highlighting that a sustained move below the $13.27 support could trigger a new leg lower in the near term.

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.