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- 1 Coreum price is up nearly 1.43% intraday and trades close to $0.155 at press time.
- 2 The technical indicators imply a sideways trend outlook in the short term.
The Coreum price is volatile with major ups and downs in the short term. The price is moving in a multimonth range value and exhibits a sideways trend outlook. At the time of writing, the COREUM crypto was trading close to $0.155, recording a positive intraday development of nearly 1.43%.
The daily chart shows a tug of war between the bulls and bears with none dominating at the moment. The bulls are attempting for a breakout while the bears are busy defending the higher levels.
Talking precisely about the levels, on the higher side the $0.177 level has been a major hurdle for the bulls to surpass. While, on the flip side, the $0.138 level has turned out as a strong support and has been preventing the price from falling further in the last couple of months.
Now, until the Coreum price is maintained in between these boundaries, it may tend to maintain a sideways outlook. The breakout or breakdown on either side may determine a clear trend in the Coreum cryptocurrency and the price may resume its way in that particular side.
Coreum Crypto Volume Analysis
The Volume analysis of Coreum crypto illustrates that the intraday volume received was $1.770 Million which is 13.94% more than that of received in the previous day. It has a live market capitalization of $60.349 Million which ranks 625th in the overall crypto market.
The volume to market capitalization ratio is 1.75% suggesting low volatility in the crypto. The circulating supply of Coreum cryptocurrency is 384.7 Million COREUM tokens against a total supply of 545.67 Million COREUM tokens.
Coreum Price Social Dominance And Volume Insights!
The above chart displays a plot of social dominance of the COREUM crypto in conjunction with active social users over the last couple of months. The social presence of the crypto dropped by nearly 50% in January. However, it rose in February and March, highlighting the increasing acceptance of crypto among users in the last two months.
Moreover, the active social users on X have been increasing continuously in the past couple of months. It highlights the popularity of crypto among the X users.
Coreum Price Indicator Analysis
At the time of writing, the relative strength index indicator (RSI) was placed slightly below the mean line at 47.90 points. Also, the simple moving average line was hovering higher than 52.19 points. Both the RSI and SMA line have gone flat indicating a consolidation in the crypto.
Moreover, the COREUM cryptocurrency shows frequent crossover of the 20 and 50-Day EMAs with the price indicating a sideways trend prevailing in the crypto.
Coreum Price Prediction April 2024
As per the most optimistic view of our analysts, the price has a room of 25% on the higher side for the upcoming sessions to reach the upper boundary of consolidation at $0.192. The most pessimistic outlook suggests a downside view till the lower boundary of the range at $0.138 by the end of April 2024.
Conclusion
The Coreum price is volatile with major ups and downs in the short term and illustrates a sideways outlook. The daily chart witnesses a tug of war between the bulls and bears with none dominating at the moment. The $0.177 and $0.138 have been acting as the upper and lower boundaries of the range.
Any sustained breakout or breakdown may initiate a clear trend and the crypto may resume its way to create further price action. The technical indicators also imply a consolidation in the crypto.
Technical levels:
- Support Levels: $0.138 and $0.120
- Resistance Levels: $0.177 and $0.192
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.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
