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- 1 At press time, Coreum price was trading close to $0.148, recording an intraday loss of 4.26%.
- 2 The technical indicators imply a sideways to bearish outlook over the daily chart.
The Coreum price started the week on a positive note in the morning session however turned negative by the afternoon session as the bulls failed to hold the price on the higher side. The bears made a comeback after the price attempted to surpass the 20-Day EMA on the daily chart.
Moreover, the buyers attempted a recovery after the crypto price broke below the previous low. However, the recovery lacked momentum indicating the weak buying hands participating in the buying.
The recent price action study shows that the price took a rebound after hitting a new swing low and surged higher. However, the recovery lacked momentum which led to a consolidation near the previous breakdown zone and 20-Day EMA.
Currently, the daily chart shows the formation of a bearish engulfing candlestick indicating the early signs of a trend continuation. If the bears are able to register a closing below the previous day’s low, it may validate the completion of a pullback and initiate a new bearish trend in the short term.
If the COREUM crypto price continues to drift lower, the short term traders and investors may target the previous swing low at $0.138 and further downward move up to $0.130.
Coreum Crypto Volume Analysis
Moreover, the volume analysis shows that the COREUM cryptocurrency has received $390.7 K in volume which is 79.36% less than the previous day. The volume inflow is decreasing which further adds confirmation to the completion of a pullback.
It has a live market capitalization of $57.41 Million. Also, it has a volume-to-market capitalization of 0.68%, indicating very low volatility in the crypto. It has a circulating supply of 384.79 Million COREUM tokens against a total supply of 545.6 Million tokens.
Coreum Price Indicator Analysis
Coreum crypto failed to surpass the 20-Day exponential moving average indicating a bearish outlook in the short term.
At the time of writing, the MACD line was hovering at 0.0015 and the signal line was at 0.0.0015 points. Both the MACD line and signal line were about to make a bearish crossover indicating a negative trend in the short term.
Coreum Price Prediction March 2024
The short term outlook seems to be bearish if the buyers fail to recover intraday today. The bearish outlook of our analysts targets lower levels of $0.138 and $0.132 if COREUM crypto continues to drift lower.
Whereas, if the buyers make a comeback in the later sessions and the price recovers it may attain $0.155 and $0.16 as the higher target for March.
Coreum Crypto Price Prediction 2024
On the most bullish observation of our analysts, Coreum cryptocurrency could gain a high of $0.298 in the year 2024. On the flip side, the most pessimistic view of our analysts is for the price to reach $0.232.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
