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- 1 COREUM token witnessed selling pressure and a range breakdown was noted.
- 2 Bears have persisted in pushing the token and follow on selling pressure was witnessed.
The Coreum token (COREUM) slipped below the critical support zone of $0.1500 and reflecting bearishness on the chart. The token has displayed a range breakdown as sellers showcase their dominance. The Coreum token persisted in delivering the lower low swings, forming a falling channel on the charts. The price action shows that sellers have persisted in adding short positions and are eyeing the $0.1000 mark. Coreum token price is trading below the significant moving averages and witnessed a bearish crossover on the charts.
At press time, the Coreum token (COREUM) price was trading at $0.1362 with an intraday drop of 0.64%, reflecting bearishness on the charts. It has a monthly return ratio of -6.67% and -87.25% on a yearly basis. The pair of COREUM/BTC is at 0.00000206 BTC, and the market cap is $52.44 Million. Analysts are bearish and suggest that the COREUM token price may continue to face bearishness and may drag toward the $0.1000 mark soon.
COREUM Price To Volume Profile Highlighting Bearishness
The Coreum price to volume profile indicated a massive setback and the token persisted in draining gains and could not manage to hold yet. The price action witnessed a severe fall over 34% last month and is still trading in the bearish trajectory. The intraday trading volume surged over 520% to $1.72 Million showcasing sellers’ efforts to push the token toward the $0.1000 mark.
Price Volatility & Weighted Sentiment Analysis
Amidst the price decline, the price volatility is on a lower note and remained below the midline near 0.014 suggesting that the rate of fall is lower. Similarly, the weighted sentiment data signifies a negative outlook, the value stayed in the negative region, noting around -0.282.
Social Dominance and Active Users Outlook
Per the Santiment data, the social dominance data replicates a decrease in investor interest and the value stayed in the negative region, noted around 0.004%. For weeks, the data remained lower, indicating that no significant activity happened. Similarly, the active users on the X platform noted a drop over 220% to 1787.
What RSI & Whale Activity Show On Daily Charts
The data shows that, the percent of stablecoin total supply held by whales noted a consistent up move and the value spiked to 56.40, a jump over 12% was spotted this month. The RSI curve stayed in the oversold region and is signifying a negative crossover on the charts
Per the Fib levels, the Coreum price has slipped below the 23.6% zone and is trading near the lower Bollinger Band support zone. Similarly, the MACD indicator shows a bearish crossover and persisted in forming red bars on the histogram.
Total supply of the Coreum token is 545.67 million, whereas the volume-to-market cap ratio is 0.0328. Coreum token stands at 516 per the market cap in the global crypto market.
Summary
The Coreum token price is trading below the key moving averages and is in the bearish trajectory, implying seller dominance. The token may continue to drain gains and extend the down move toward the $0.1000 mark soon.
Technical Levels
Support Levels: $0.1200 and $0.1000
Resistance Levels: $0.1450 and $0.1600
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
