CORE price hit a 52-week high of $4.18, marking a notable 30% intraday increase.
In the fourth week of March, #Core coin showcased a robust recovery, bouncing back from the $0.530 support level and achieving an impressive 547% rally within two weeks, reaching $3.50.
The recent surge in CORE's price is primarily attributed to the launch of coreBTC by Core DAO.
Analysis of higher time frames indicates the formation of a bullish reversal pattern called a rounding bottom.
#CORE had been trading within an ascending parallel channel since September 2023 but broke out from the channel on March 27.
If the market maintains the price above the $3.000 resistance level, bullish momentum is expected to drive the price towards the upper resistance level of $4.50 by the end of the month.
Currently, #CORE is trading within a critical horizontal and Fibonacci resistance zone at $4.50.
According to Coingabbar's analysis, A potential trend reversal might lead to a price decline towards the $2.90 support level in the coming weeks, or even correct to $2.
KEY LEVELS :
RESISTANCE LEVEL : $4.5000-$7.0000
SUPPORT LEVEL : $2.8000-$1.7000
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Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.