The Coreum price has secured a 3-day gaining streak and is looking to appreciate further to close in green. The bulls were dominating in the last few sessions and are expected to continue the same in the coming sessions.
At press time, the COREUM price was trading close to $0.157, recording a 0.19% drop. The daily chart displays volatility in the recent sessions, thus leading to a consolidation. The $0.138 and $0.158 levels are acting as the lower and upper boundary of the consolidation respectively.
The recent consolidation has erased the selling pressure that was created in February after COREUM price crashed from the highs and broke the previous support level at $0.15 directly. The short-term outlook has shifted from bearish to sideways as the buyers made a comeback at the lower levels and prevented further fall.
Coreum Price Volatility Decreases!!
Moreover, the recent sessions experienced high volatility in the COREUM price after the price dropped near the lows in February. However, the volatility seems to be coming down in the recent sessions. It suggests the price is stabilizing at the higher levels.
The volume analysis shows that the COREUM cryptocurrency received $599.259K in volume in the past 24 hours which is 68.80% less than the previous day. The live market capitalization of Coreum is $59.93 Million and ranks 618th in the overall crypto market.
Coreum Crypto: Whales Increasing The Holdings!!
Though Coreum movement hasn’t been positive in the recent sessions, the whale holdings have increased significantly in the last couple of weeks. The whale holdings have surged from 52% to 55% from mid-February to date. It signifies that the whales are accumulating the lows and the price might display a sharp jump in the forthcoming sessions if it breaks out.
Coreum Price Indicator Analysis
From a technical perspective, Coreum crypt price trades higher than the 20-Day EMA, suggesting a positive outlook in the short term. The 20-Day EMA may act as a dynamic support level if the price drops. The overall technical indicators including RSI and MACD are displaying a positive sentiment in the short term.
Conclusion
Coreum price displayed a sideways trend in the recent sessions and is trying to stabilize after a sharp drop in February. The price drop did not follow through, indicating a buyers’ comeback, preventing a further drop.
Moreover, there has been significant development in the holdings of whales in the last couple of weeks. Despite the price loss, the Coreum crypto has been successful in attracting the whales. The whale holdings jumped from 52% to 55% in the last couple of weeks. However, the breakout or breakdown may decide the next clear trend in the crypto.
Technical levels:
- Support Levels: $0.138 and $0.120
- Resistance Levels: $0.158 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.
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.
Source: https://www.thecoinrepublic.com/2024/03/11/coreum-price-looks-to-appreciate-further-amid-whales-accumulation/