- The Core price rebounded from the 100-day EMA support mark and picked up momentum.
- Buyers have succeeded in surpassing the $2 mark and eyeing a rally ahead.
The Core (CORE) token grabbed strength and crossed the prompt hurdle $2 mark. The token trades above the key moving averages and is poised for a sharp rally ahead.
Furthermore, the token made a strong base at nearly $1.50 and exited the falling wedge pattern, gaining investor interest this week.
For weeks, the token remained in a narrow range between $1.50 and $2.70. It has not replicated any impulsive moves yet. The signs of bull accumulation were noted, and a fresh bullish wave was spread.
At press time, the Core token (CORE) price traded at $2.10 with an intraday surge of 12.10%, reflecting neutrality on the charts. It has a monthly return ratio of 5.30% and 99.20% yearly.
The pair of CORE/BTC is at 0.0000287 BTC, and the market cap is $1.81 Billion. Analysts are neutral, suggesting that the CORE price may register a breakout above $2.80 and skyrocket gains ahead.
CORE Might Skyrocket Gains Ahead: Price Action Outlook
The Core (CORE) token picked up fresh bullish strength and is eyeing a significant bull rally in the next few sessions. The trend is switching toward the bulls, and the token might soon retest the $3 mark’s upside trajectory.
A break and close above the $2.70 mark would trigger the bullish rally ahead. Conversely, if the buyers fail to hold the prompt support zone of $1.60, a retracement toward the $1.30 mark can be seen later.
Source: Santiment
Amidst the sharp intraday surge of 12.20%, the intraday trading volume pumped over 132% to $99.18 million, revealing investor interest.
Ranked at 64 per the market cap, the token has a total supply value of 2.10 billion and a volume-to-market cap ratio of 0.556.
The key metrics turned positive, suggesting a massive upside is on the cards and would trigger soon.
The RSI curve crossed the midline region and signified a positive divergence on the charts. Similarly, the MACD indicator started forming green bars and replicated a bullish crossover.
Price Volatility Remained Flat, and Sentiments Look Positive
Despite the price surge of over 12%, the price volatility curve remained flat and stayed near the 0.013 mark, implying a steady upward move.
Source: Santiment
Meanwhile, the weighted sentiment data looks positive, as the curve crossed the midline region, noting around 0.339, and witnessed a bullish outlook.
A tweet by @Cryptopig mentioned that the CORE price has escaped a falling wedge pattern and will rise toward the $4 mark soon.
$CORE has broke out and is continuing to move higher
Currently forming a falling wedge pattern
Back to $4 we go pic.twitter.com/URgiiOp8tP
— Cryptopig (Gem hunter & trader) (@cryptopigmedia) June 4, 2024
Source: X
Development Activity and Social Dominance Insights
Per the Santiment data, the development activity witnessed a steady down move and stayed below the midline zone, noting around 1.93, revealing a negative outlook.
Source: Santiment
Meanwhile, the social dominance curve spiked over 21% to 0.65%, highlighting the investor discussions and reports on social media platforms.
The token stays below the 50% zone per the Fib levels and is close to the mid-Bollinger Band region.
The immediate support levels for the Core (CORE) price are $1.80 and $1.50, whereas the key upside hurdle is around $2.50, followed by $3.
Conclusion
The Core (CORE) price trades above the $2 mark and is poised for an up move for the upcoming sessions. The trend is neutral, and the token is eyeing to pump the gains beyond the trajectory hurdle of $3.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
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