Coreum Price Shows Tendencies To Rise, Will It Rally Soon?

The crypto volume and market cap reflect the fluctuations in buying and selling of the COREUM price. The surge and decline in these values illustrate volatility in the Coreum asset price. These are the most common metrics that shape the major structure of an asset’s price action on the daily chart.

The Santiment chart portrays the correlated relationship between the COREUM token volume and price. A closer look at the chart shows that both volume and token price were low before October 2023. That meant a lack of interest and activity in the market for the COREUM token. Volume is under $250K while the price was hovering around $0.085.

However, from the next month around November 2023, volume and price continued to rise, and a pump in its activity was observed which indicated increased demand and excitement about COREUM price. The trading volume exceeded $500 K to the max at $3 Million and the price rose drastically from $0.085 to $0.300 by December 18th, 2023. 

But the price met the supply region and a correction began which led to the formation of support at the $0.140 price mark by February end of 2024. This crypto proved its sturdiness, as the price recovered from this level and attained a recent high of $0.197, a pump in price activity was observed, which is a healthy sign. This scenario suggests that there is a rise in demand for CORREUM.

Moreover, at press time, the current volume is 389 K, and the market capitalization is $65.04 Million. The higher market capitalization often provides better liquidity as it assists in better investing and buying or selling COREUM assets more quickly and easily. 

Similarly, studying market cap changes over the Santiment chart illustrates and gives clarity by revealing insights into potential COREUM price movements and overall market health over time. The market cap has been showing spikes from the start of the year, and the corresponding fluctuations were reflected in the daily chart, this signified buyers’ and sellers’ interest in the COREUM price has increased.

Likewise, it is very important to consider the asset’s trading volume in conjunction with the market cap. A high market cap with high trading volume indicates vast liquidity, making it easier to buy or sell without affecting the price, as both sellers and buyers are active in the asset.

Will COREUM Crypto Show A Sensational Surge Soon?

The COREUM/USDT price action of the last six months has been bullish with the crypto going up by 109.05%. Even though it has demonstrated good performance in the past week by 7.65%, this indicates that the price was in a short-term correction face and buyer are gaining their ground back, this can push an upward trend for higher growth in the upcoming sessions.

The crypto declined from recent resistance of $0.209 and plunged 2.29% in the last 24 hours, and was trading at $0.166 at press time.

The COREUM crypto has displayed an unwavering sign of revival as the price spiked after sustaining at the critical level of around $0.140 on the chart. The crypto looks like it is set for a spectacular rally, which could smash the resistance level and soar to new heights from the current ground support.

Therefore, if the demand increases, the COREUM asset price could bounce back strongly from the current level. Then the next goal for the price could be to reach $0.2500 with resistance from $0.2090.

On the flip side, if the COREUM price fails to stay above the $0.1400 level and plunges, then it could decline further up to the demand zone and could reach up to the $0.1000 price mark.

Indicator Analysis Of Coreum Crypto

The Coreum crypto asset is showing bullish strength and rising potential as its price stays above the dynamic supports levels, teh 20 and 50-Day EMAs.

Moreover, the COREUM USDT asset is in a strong uptrend from the last six months performance data, while MACD is still above the zero line with a histogram at 0.00173. Likewise, the RSI shows no signs of any adverse forecast yet, since it is above the median line, it is in the bullish zone and suggesting that the asset can grow.

Summary

Coreum (COREUM) has experienced significant fluctuations in trading volume and market cap, indicating a volatile market. The token saw low activity before October 2023, but interest surged from November onwards, with volume peaking at $3 Million and the price reaching $0.300. After a correction, a support level formed at $0.140, and the Coreum price rose to $0.197.

Despite a 2.29% drop to $0.166, the indicators suggest bullish strength, with the potential for the price to reach $0.2500 if it maintains support above $0.140. Conversely, falling below this level could lead to a decline to $0.1000.

Technical Levels

Support Levels: $0.1400

Resistance Levels: $0.2090

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.