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- 1 Coreum price came under strong selling pressure from the upper supply zone and loomed near the monthly low.
- 2 The coreum price currently trades at $0.139 reporting a positive intraday development of 2.80%.
The Coreum price jumped higher intraday from the monthly low value indicating the presence of buyers at the lower levels. At the time of writing, the COREUM price was up nearly 2.80% and was trading close to $0.139.
Earlier this week also, the crypto experienced a buying from the same monthly low value. However, the bullish momentum faded away when the price hit the 20 day EMA. The price dropped to the same demand zone after a strong bearish candle was noted on the daily chart.
On the higher side, the 20 day and 50 day EMAs are acting as dynamic resistance levels and are preventing the price from drawing further upward trajectory. The bulls need to surpass the dynamic resistance to reverse the short term trend.
Furthermore, the short term trend has turned slightly bearish after a continuous selloff from the recent supply in the last few weeks. However, there is still some hope left for the bulls as the coreum price still hovers above the monthly low value which is also the recent demand zone.
Coreum Crypto Volatility Analysis
The volatility of coreum crypto measures the fluctuation in the price. The above chart describes a contrast between the price and volatility metrics. As per the chart, volatility surged in the first two weeks of March as the price gained traction.
However, the volatility along with the price, dropped in the later weeks of March 2024. The drop in volatility highlights the stability of the crypto at the CMP.
Coreum Crypto: Social Users Are Increasing!
The social dominance and social volume are the metrics that depict the current activity of the social users about the Coreum crypto. It includes the users over various social platforms like Telegram, X, Facebook etc.
The social volume and social dominance curve display a positive trajectory in the last couple of months indicating an increment in the number of users. The rise in the number of users suggests the increasing popularity and awareness regarding the crypto.
Technical Indicators Implying A Mixed Outlook
From a technical point of view, the COREUM crypto showcases a neutral to bearish outlook as per the key exponential moving averages of 20 and 50 days. The price hovers below both the 20 and 50 day EMAs and both the EMAs are aligned in a bearish way.
At the time of writing, the RSI line was hovering close to 43.87 points and that of the SMA line was placed at 39.37 points. The RSI and SMA line have withdrawn below the mean line indicating a short term bearish outlook.
Coreum Crypto Price Prediction April 2024
On the most optimistic note, Coreum crypto could gain to a high of $0.177 as the highest value in April if the bulls surpass the recent dynamic resistance of 20 and 50 day EMAs. On the other hand, the most pessimistic prediction of our analysts is $0.120 if it breaks below the recent support level of $0.133.
Conclusion
Coreum’s price has shown resilience, bouncing back from monthly lows, signaling buyer interest. At the time of writing, the Coreum price up by 2.80% and was trading around $0.139. The price faced resistance at the 20-day EMA, leading to a drop back to the demand zone.
Overcoming the 20 and 50-day EMA resistance is crucial for reversing the short-term trend bearish trend. Social metrics on platforms including Telegram and X show increased user activity, hinting at Coreum’s growing popularity. The positive view of our analysts, the Coreum price could rise to $0.177 in April if resistance is breached.
Technical levels
- Support Levels: $0.133 and $0.120
- Resistance Levels: $0.153 and $0.177
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.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
