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July 18, 2024
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Core(CORECHAIN ) Price Analysis: Can The Renwed Buyer Interest Hold The Price Above $1.9?

The post Core(CORECHAIN ) Price Analysis: Can The Renwed Buyer Interest Hold The Price Above $1.9? appeared first on Coinpedia Fintech News

CORE, today up by 22.4% with a trading volume surge to 174.5 million (106 %). This is clearly after the Coinbase exchange announced the inclusion of listing CORE in its roadmap. 

Corechain is an EVM Compatible layer 1 blockchain, that supports Ethereum smart contract execution and development of DApps on its own. 

CORE Finds Bullish Pressure At Key Support Zone

CORE breaks out of a bearish channel, finding a significant support zone at $1.5. This move can be seen as the potential the asset was collecting. If the Coinbase roadmap inclusion news hasn’t come out the rice would trade sideways for a while and slide up accordingly. 

When we see the CORE/USDT 1hr Chart, the price breached long-term resistances at $1.87 and $1.94 forming a new support zone underneath. 

The RSI near 72 is still under a neutral zone, forming a wave above the neutral zone in the long term. Typically, this RSI movement indicates a potential bullish or neutral asset rally. 

We can also see the Volume moving in the same direction as the price, which is again a bullish symbol. The price action now shows increasing accumulation with neutral momentum. 

CORE Price Prediction 

The price of Corechain (CORE) is now changing hands at $2.0. With the price moving above all the moving averages there is a trend to hold above SMA50 that will act as a strong support. 

Looking at the oscillators, which are all neutral and price heading above the MACD line gives us a balance moving ahead. Trend traders and Swing traders both can enter positions anywhere near $2 and expect a price rally to $3 in a few days. 

In contrast, if the buyers stop accumulating, we have 2 strong support zones, just hold yourself anywhere near the $1.86 level. 

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