Core Scientific shares technical analysis: Downward move targets $12.06 support level

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Core Scientific slides 9.11% today

Highlights

CORZ stock trades below key moving averages on all timeframes, indicating sustained seller control and downward pressure.
Technical indicators are split, with MACD reading bullish but ADX, bull/bear power, and others showing neutral to sell signals.
The expected price range over the next 2 to 3 days is $12.06 to $14.61, with 74% probability of a further decline.

Mixed oscillator signals as resistance caps rebound potential

On the technical front, CORZ is trading below the MA-20 at $14.45 and MA-50 at $13.93 on the hourly chart, as well as the long-term MA-200 at $19.68. The daily Ichimoku Kijun, sitting at $14.25, establishes the closest resistance point for potential rebounds. Momentum readings show a split setup: MACD is in a strong buy configuration, while ADX registers as neutral and does not confirm a clear directional force. RSI sits at a mildly bullish 53.39, but Stochastic RSI signals oversold and CCI holds neutral, highlighting a lack of decisive commitment from oscillators. Bull/Bear Power reads as Sell, favoring sellers intraday, while the Awesome Oscillator remains neutral, not reinforcing current selling pressure.

Downside risk prevails as short-term volatility intensifies

Looking ahead to the next two or three trading sessions, CORZ is expected to stay volatile within a likely range of $12.06 to $14.61, consistent with recent price swings. Model projections assign a 26% probability for an upside move and a 74% probability of further downside, favoring sustained seller activity. The most probable scenario is a sideways pattern within this corridor, while a bullish case would see buyers pushing above the $14.25 Kijun resistance; downside risk is further acceleration toward the $12.06 region.

Anton Kharitonov, expert at Traders Union, notes that Core Scientific (CORZ) continues to face heavy selling after slipping beneath critical moving averages. The technical setup remains weak, with oscillators delivering mixed signals and no clear catalyst from news flow to shift sentiment. Kharitonov sees little sign of decisive buying interest and expects downside to prevail unless buyers reclaim the $14.25 resistance. "Base case remains pressure toward $12.06, and until we see a break above the Kijun at $14.25, I remain defensive on CORZ."

Earlier, analysts noted that Core Scientific was exhibiting a persistent bearish technical structure with sellers retaining control. The current analysis strengthens this view, as continued pressure below critical moving averages now places increased focus on the $14.25 resistance and the risk of downside acceleration toward $12.06 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.