CORE's cryptocurrency is exhibiting robust momentum, with its value steadily climbing over recent days. The crypto had been trading within an ascending wedge pattern for an extended period before breaking out, resulting in a dramatic price increase of over 350%.
The gap between the 20-day and 50-day Exponential Moving Averages (EMAs) is substantial, with the crypto's price soaring 140% above the 20-day EMA. Additionally, the EMAs are forming a 'golden cross,' a technical indicator that suggests a bullish trend.
The Moving Average Convergence Divergence (MACD) aligns with this upward trend, evidenced by a bullish crossover between the MACD and the signal line. The chart's histograms further reinforce the bullish sentiment.
On the daily chart, the Relative Strength Index (RSI) has escalated to overbought territory, currently positioned at 94, signaling intense momentum in the crypto's price.
Despite these indicators pointing towards a strong bullish trend, there remains the potential for a significant price correction in the near future.
The gap between the 20-day and 50-day Exponential Moving Averages (EMAs) is substantial, with the crypto's price soaring 140% above the 20-day EMA. Additionally, the EMAs are forming a 'golden cross,' a technical indicator that suggests a bullish trend.
The Moving Average Convergence Divergence (MACD) aligns with this upward trend, evidenced by a bullish crossover between the MACD and the signal line. The chart's histograms further reinforce the bullish sentiment.
On the daily chart, the Relative Strength Index (RSI) has escalated to overbought territory, currently positioned at 94, signaling intense momentum in the crypto's price.
Despite these indicators pointing towards a strong bullish trend, there remains the potential for a significant price correction in the near future.