Coreum Price Prediction: Coreum Price Slips Below $0.1 level

• Coreum price is currently trading at $0.09211 while witnessing a decrease of 0.07% during the intraday session
• The year-to-date return of COREUM price is -76.41% and the three-month return is -61.05%.
• The Coreum price is presently trading below 20,50,100, and 200-day EMA.

Coreum coin is the first EGB (Enterprise Graded Blockchains) is a new standard of blockchain network introduced by the Coreum itself to provide the essential tools and infrastructure for enterprises of any size and scale to build and run decentralized applications.

The current market structure of the Coreum price displays the bearish sentiment in the market. The CORE price witnessed a negative return throughout the year. In contrast, it currently trades at $0.09211 with an intraday return of -0.07 and a weekly return of -24.30.

In early 2023, the Coreum price has been steadily moving upward momentum. That bullish trend helped the price reach the annual on March 23 at the $1.32626 resistance level but did not last for a while. 

From there, the bears pulled down the CORE price in reversal with a roughly 92% decrease from the resistance level of $1.32626 to the recent support level of $0.08750. 

Now the Coreum price is in a downtrend, and there is a high probability that the price might melt toward the $0.070 level if the current candle can break the previous candle low. And If the current candle can break the last candle high, there is a high probability that the price might hike toward the $0.110 level.

Technical Analysis Of Coreum Price.

The Relative Strength Index (RSI) trades at 34.97 during the intraday session. RSI denotes the weakness in the market as the CORE price has been depleting in the past 24 hours.

The Chaikin Money Flow score is -0.21 during the intraday session, indicating weakness in the market and the price might melt down further.

The Bitcoin SV price is currently trading below the 20, 50, 100, and 200-day EMA, indicating weakness in the market. Hence, the participation of sellers increased in the market. 

 The long and short ratio is 1.1091, with shorts at 45.66% and longs at 54.34%, representing the pressure from the sellers as the Coreum price is in a downtrend.

Conclusion

The market structure Coreum price represents the heavy dominance of bears in the market. Since March 2023, the Coreum Price has witnessed the long march of bears, where the price drastically decreased in the past months. Investors should look for selling opportunities as the technical indicators represent the same.

Technical Levels

Major support: $0.23209 and $0.08750

Major resistance: $1.32626 and $0.37773

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.