Core

Time

Amid <a href="https://coingape.com/trending/how-the-crypto-market-is-performing-today/" rel="noopener noreferrer nofollow">cryptocurrency market</a> turbulence, trading demands a thorough comprehension of market signals and trends. Even though Core (CORE) has experienced a growth of 81.98% in its value over the past year, it has not escaped losses of 14% in the past month. This has raised the question of whether it is the right time to buy, sell or hold onto the Core asset. Join us as we delve into a comprehensive analysis, to help make the right choice.
<h2 id="strong-market-performance-of-core-core-price-strong">Market Performance of Core (CORE) Price</h2>
<img decoding="async" class="aligncenter size-full wp-image-196657" src="https://coingape.com/wp-content/uploads/2024/05/Screenshot-2024-05-13-142814.png" alt="Market Performance of Core (CORE) Price" width="2554" height="1261" srcset="https://coingape.com/wp-content/uploads/2024/05/Screenshot-2024-05-13-142814.png 2554w, https://coingape.com/wp-content/uploads/2024/05/Screenshot-2024-05-13-142814-300x148.png 300w, https://coingape.com/wp-content/uploads/2024/05/Screenshot-2024-05-13-142814-1224x604.png 1224w, https://coingape.com/wp-content/uploads/2024/05/Screenshot-2024-05-13-142814-768x379.png 768w, https://coingape.com/wp-content/uploads/2024/05/Screenshot-2024-05-13-142814-1536x758.png 1536w, https://coingape.com/wp-content/uploads/2024/05/Screenshot-2024-05-13-142814-2048x1011.png 2048w, https://coingape.com/wp-content/uploads/2024/05/Screenshot-2024-05-13-142814-150x74.png 150w" sizes="(max-width: 2554px) 100vw, 2554px">
CORE&nbsp; token has seen price fluctuations, much like other cryptocurrencies, across different time periods. At its current price of $1.66, there has been a 2.20% drop in value over the past day. Taking a wider view, the currency has faced bigger declines, dropping by 14.60% in the last week.
Nevertheless, the monthly pattern suggests a more moderate decrease of 1.05%. The annual results indicate a 80.85% increase from the previous year.
Despite these fluctuations, CORE DAO token’s market capitalization stays at approximatelyn$1.5 billion, placing it as the 58th largest cryptocurrency, according to <a rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/currencies/core-dao" target="_blank">CoinMarketCap</a>.
In the past day, the total amount of trading reached about $105.3 million, making up 7.04% of the market capitalization. This indicates an adequate amount of liquidity present in the market.
Having achieved its all-time high of $6.47 on February 8, 2023, CORE’s value has since dropped by 73.77%.
<h2 id="strong-is-it-time-to-buy-sell-or-hodl-core-strong">Is It Time to Buy, Sell or Hodl CORE?</h2>
The technical analysis of Core token indicates a somewhat bearish sentiment, with various indicators suggesting caution. Let’s delve into the analysis.
The moving averages present a predominantly bearish outlook, with both exponential and simple moving averages signaling a ‘sell’ sentiment across various timeframes.
Notably, the shorter-term <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/" rel="noopener noreferrer nofollow">Exponential Moving Averages</a> (EMAs) and <a href="https://coingape.com/education/simple-moving-average-how-to-leverage-it-in-crypto-market/" rel="noopener noreferrer nofollow">Simple Moving Averages</a> (SMAs) are lower than moving averages for a longer period, showing a decrease in trend. EMAs of 10, 20, 30, and 50 days signal to sell, while SMAs of the same durations show selling pressure as well.
Nevertheless, it is important to mention that the extended EMAs and SMAs over 100 and 200 days indicate a bullish outlook, hinting at a possible change in direction or sustained backing.
The oscillators reflect a mixed sentiment, with some neutrality prevailing alongside a few indicators leaning towards selling. The <a href="https://coingape.com/glossary/rsi-relative-strength-index/" rel="noopener noreferrer nofollow">Relative Strength Index (</a>RSI) at 42.2446 suggests neutrality , while <a href="https://coingape.com/glossary/macd-moving-average-convergence-divergnece/" rel="noopener noreferrer nofollow">MACD</a> is in the ‘sell’ zone as well.
The Fibonacci support and resistance levels provide additional insight into potential price movements. Key support levels are identified at 0.6095, 0.5135, and 1.0483, should the price fall. On the flipside, resistance levels to watch out for are 3.8133, 5.6972, and 8.9010, in case the price increases.
Considering the technical indicators, CORE appears to be experiencing a downward trend, as indicated by moving averages and some oscillators suggesting selling pressure. However, the longer-term moving averages and Fibonacci support levels hint at potential buying opportunities or support zones.
<h2 id="strong-recommendations-strong">Recommendations</h2>
1. Short-term Traders: With the prevailing negative outlook in the short to medium term, short-term traders might opt to sell or remain on the sidelines until more definitive indications of a turnaround emerge.
2. Long-term Investors: Those investing for the long term may see the current downturn as a chance to build up positions, particularly given the backing from extended moving averages and Fibonacci levels.
3. Risk management: This is essential no matter which strategy is chosen, so it is important to use appropriate risk management techniques and keep a close eye on the market for any technical landscape changes.
The post <a href="https://coingape.com/blog/core-core-price-has-dropped-14-buy-sell-or-hodl/" rel="noopener noreferrer nofollow">Core (CORE) Price Has Dropped 14%; Buy, Sell or HODL?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Core (CORE) Price Has Dropped 14%; Buy, Sell or HODL?

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