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- CORE token price gained momentum and crossed the $1 mark.
- Its Open interest surged over 16.33% to $22.07 Million in the last 24 hours.
The CORE token has displayed a significant uptick and added over 70% in the last two weeks, highlighting a positive note. Following this, the token has crossed the $1 mark and gained momentum.
Backed by the crypto market recovery, most altcoins have recovered their gains and attained significant bullish momentum. In the first half of July, the token made a bullish engulfing candlestick, stretching the up move ahead.
If the market experiences further gains, the token might stretch the gains, and buyers are eyeing to breach its trendline hurdle of $1.80. The token might soon catch the $2 mark if the bulls continue overpowering the bears.
CORE At Press Time
At press time, the CORE token was trading at $1.52 with an intraday surge of 7.04%, reflecting buying momentum on the charts. It has a monthly return ratio of 6.97% and 70.20% yearly, reflecting short-term consolidation.
The pair of CORE/BTC is at 0.0000227 BTC, and the market cap is $1.36 Billion. Analysts are neutral and suggest that the CORE price might stretch the up move and would cross the $2 mark soon.
CORE Stepped Up Gains: What’s Next?
The daily chart of the CORE token signified a short-term bullish reversal. The technicals reveal that bulls are likely to trigger an upmove ahead.
A significant breakout rally could be anticipated once the token moved across the $2 mark. A falling wedge pattern was observed, and the retracement phase is now completed.
CORE Price Chart | Source: TradingView
The token has crossed its key moving averages and a surge in the trading volume of over 24% to $78.60M in the past 24 hours.
The current trade setup conveyed that the token has rebounded from its interim lows of $0.8500 and soared high. It was elevated over 7% intraday and over 30% weekly.
The RSI showed a vertical upswing and soared to the overbought zone, accompanied by a bullish crossover on the chart.
Per the Fib levels, the token has the immediate resistance hurdle around the $2.20 mark near the 38.2% zone.
A breakout may be triggered when the token price crosses the $2 mark. A significant uptick toward the $2.70 mark, followed by a $3 mark, can be seen ahead.
Social Dominance and Development Activity Insights
The Social Dominance data showed a dip and dropped over 21% to 0.315% in the last 24 hours. It delivered a significant downtick in the investors’ chatter on social media platforms.
Social Dominance Data | Source: Santiment
Meanwhile, the development activity data showed a consistent upmove and soared over 32% this month. It noted a significant growth in the ecosystem.
Its Open Interest rose over 13.20% to $22.07 Million, revealing a fresh long buildup in the last 24 hours.
@Decilizer, in his post, said that CORE has rebounded from its primary support mark of $1.07 and is ready for a significant uptick.
$CORE has confirmed that its primary support at $1.07. We anticipate it to reach our next target, which is $2.67 in a meantime if this uptrend continues. We also expect $BTC to continue its bullish trend during this period.
— Decilizer (@decilizer) July 21, 2024
Historically, we have monitored gains of 470% on it. pic.twitter.com/JbqGgyde3R
A Tweet by @Decilizer | Source:X
The immediate support levels for the CORE token have been $1.30 and $1.00. At the same time, the key upside hurdle is around $2.0, followed by $2.30.
What’s Next For CORE?
The CORE token price climbed above the significant moving averages and gained bullish momentum. Moreover, the token is on the verge of a breakout and can rally up to the $3 mark ahead.
Disclaimer
This article is for informational purposes only and does not provide any 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.
