A Sign of Bullish Trend For COREUM?

The Coreum price has been holding higher on grounds and is trying to form a bullish trajectory. The Investors and traders are targeting the recent swing high and a round level of $0.20 in the coming sessions. The crypto hovers in the bullish territory due to which the sellers have gone at the backfoot.

Moreover, the COREUM crypto started its journey in February on a positive note and was able to attract investors and traders. The price gained nearly 60% in the early session of the current month and showed consolidation thereafter. 

At the time of writing, the COREUM crypto was at $0.16 with a swift intraday gain of 1.25%. It has a market capitalization of $62.4 Million and ranks 458th among all cryptos. The volume to market cap ratio is 3.43%, suggesting low volatility. 

Currently, the crypto is headed towards the highs forming an inclining parallel channel pattern. It might continue to respect the upper and lower boundary of the channel until it breaks on either side. 

Coreum Trend Analysis

The long-term trend seems to be slightly bullish above the 50 day EMA. The Coreum crypto made a short term bullish rally in December 2023 rising from a low value of $0.09 to a high of $0.29 witnessing significant gains. The crypto has been correcting after attaining a high of $0.29 in December 2023. 

Moreover, the bulls seem to have turned aggressive in February which might help the crypto attain higher highs. The 4-hour chart shows an inclining parallel channel pattern. The price is rising, getting support from the lower boundary of the channel. 

Fresh upside trending moves might be observed if the crypto breaks out of the channel. The short term traders and investors may target upper levels of $0.2 and $0.25. 

At the time of writing, the RSI was at 52.66 points and the 14-Day SMA line was at 50.58. Both the RSI and 14-Day SMA line are placed above the median line, indicating slight bullishness in the short-term trend.

Coreum Price Prediction for February 2024

The positive view of analysts predicts an upside potential of over 15.52% by February end, which could take the Coreum price above the $0.187 mark. On the other hand, the bearish view of analysts predicts that the price could drop near the $0.149 level.

Coreum Price Prediction for 2024

The price prediction for 2024 shows that the Coreum may advance to a high of $0.303 by the end of 2024. The less optimistic analysts estimate a price target of $0.237 by the end of the year.

Coreum Price Prediction for 2025

As per the most positive view of our analysts, the price may hit the $0.387 mark, suggesting an upside potential of 139.01% by 2025. The pessimistic view is that the price could reach $0.311 by the end of the financial year 2025.

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.