MEXCCore Price Rally Challenges Key Resistance For 52% Upside Potential
Highlights
- The CORE price witnessed a wide correction to 78.6% FIB level indicating weakness in buyers' conviction.
- The coin price trading above 100-and-200-day EMA indicates the long-term trend remains bullish.
- The intraday trading volume in Core coin is $575 Million, indicating a 34% gain.
CORE Price: The first half of April has been a roller coaster ride for Core coin witnessing a spread from $4.36 high to $1.15. This 73.5% downswing was initiated as a post-rally correction but the selling pressure accelerated due to geopolitical tension between Iran and Israel and bitcoin’s pre-halving correction. However, an immediate reversal from the combined support of 78.6% Fibonacci retracement level and $1.15 low sparks a recovery sentiment among market participants.
Also Read: 6 Top Crypto To Buy As Bitcoin Plummets 10% In A Week
Can Core Coin Regain Its Value Above $3?
Core is a blockchain platform that leverages the security and robustness of Bitcoin while being compatible with Ethereum Virtual Machine (EVM). It uniquely combines delegated Proof-of-Work (PoW) and delegated Proof-of-Stake (PoS) consensus mechanisms.
This design aims to optimize network performance, reduce the risk of centralization, and enhance transaction speeds, making Core a versatile and secure foundation for developing and deploying decentralized applications.
The last correction trend in CORE price rebounded from 78.6% FIB level at $1.15. The bullish turnaround propelled the coin price by 146% and challenged the resistance at $2.9. The CORE price is struggling to break past this barrier as the broader prolongs its current correction trend.
With a significant intraday decline of 19%, altcoin’s trading price has dropped to $2.19. Despite this downturn, the CORE coin maintains a market cap of $1.94 billion, securing its place among the top 50 cryptocurrencies.
For buyers to gain better control over this asset, they must break the overhead resistance of $2.9. With this breakout, the CORE coin would reclaim 50% of the value lost in the last correction favoring the potential further growth.
The post-breakout rally could push the asset another 52% to hit a $4.38 high.
Also Read: Bitcoin Halving Can Cost Crypto Miners $10 Billion In Losses
Technical Indicator
- Exponential Moving Average: The fast-moving 20-day EMA increases the support strength for the CORE coin price at $2.
- Relative Strength Index: The daily RSI above 53% reflects a neutral to bullish market sentiment.
- Cathie Wood’s ARK Invest Swaps Robinhood Shares for Pinterest Despite Stock Slump
- Just-In: US Labor Shock Raises Rate Cut Bets, Bitcoin Still Down
- Second-Life GPU Marketplaces Emerge as AI Hardware Shortage Persists
- Bitget Integrates Morph Chain, Unlocking Direct USDT Trading for the Entire Morph Ecosystem
- Shiba Inu Makes Final Bounty Offer to Shibarium Hacker, Says “Take it or Lose all”
- Crypto Market Dips as U.S. Shutdown Hits Record 36 Days?
- Dogecoin Price Forecast: Is $0.3 Next After Symmetrical Triangle Breakout?
- BNB Price Eyes Rally as Double-Bottom Aligns With Token Burn, Transactions Surge
- Bitcoin Price Could Drop to $92K as Analyst Warns Amid $2B ETF Outflows
- Ethereum Price Eyes Recovery as Network Hits 24,192 TPS Milestone
- FUNToken Gains 2.38% as $5M Giveaway Drives 26% Volume Surge
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
