COREUM Coin Price Took a Halt at the $0.11643 Level, What’s Next?

• The COREUM coin price is currently trading at $0.11195.
• It has commenced a bullish rally of 71.93% from its 52-week low.

The COREUM price prediction is bullish for the upcoming months as long as it is sustained above the $0.09363 level. It shows potential growth ahead as it commenced a bullish rally and gained about 71.39% from its 52-week low support in the past 26 trading days.

The coin price broke above the $0.09363 level with a strong buying volume, which grabbed the attention of crypto investors. The coin price is commencing a bullish rally in the higher-high formation, showcasing the bulls’ confidence and strong hold over the price.

The ongoing bullish rally is currently testing the $0.11643 level, which can act as an immediate resistance to the price. 

The COREUM coin price is currently trading at $0.11195 with a 24-hour trading volume of 594.755K. The coin price registered a drop-down of 2.10% in the last 24 hours. 

Will Bullish Rally Halt at $0.11643 in COREUM Daily Chart?

The Coreum price is sustaining above the 50-day and 100-day EMAs. It shows the ongoing uptrend is under the control of the buyers. However, the coin price is trading far from the EMA lines, which shows a small retracement or narrow-range consolidation is possible.

The relative strength index is 76.33 and it indicates the coin price is currently in the overbought territory. It denotes the price is trading above its intrinsic value and a minor retracement is possible in the upcoming trading sessions. 

The RSI line has started to point in the downward direction, which displays that it has started to cool off. In the current scenario, the COREUM coin price might not be able to close above $0.11643 as the technical indicators are pointing towards a correction in price.

Will COREUM Coin Price Continue its Bullish Rally?

The COREUM coin price is currently initiating a bullish rally which is supported by a strong buying volume. Thus, it has a chance to hold the upper levels as the buyers are showing interest in the performance of the coin in the upcoming months.

Till the buyers keep defending the $0.09363 level, the chance of a bullish rally will not be diminished. The breakout of the $0.11643 level may trigger the next phase of a bullish run and will lead to an increase in the price till its next resistance at $0.14365.

However, the breakdown of the $0.09363 level may crush the buyers’ confidence and create a panic selling scenario. This may lead to a fall in price to its next support at $0.07437.

Conclusion

The COREUM future price prediction is bullish. However, the technical indicators are pointing towards a correction phase. So, a small retracement is expected shortly. The chances of the continuation of the bullish rally are high as long as the buyers hold the price above the $0.09363 level.

Technical Levels

Resistance Levels: $0.11643 and $0.14365

Support Levels: $0.09363 and $0.07437

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.