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FxWirePro- COREUSD (Chart of the day)

Mon, 24 Jun 2024, 04:06 am UTC

Core Blockchain (Core Chain), is a Bitcoin-powered, Bitcoin-aligned, EVM-compatible layer one blockchain.

Consensus mechanism-

Core Chain's major innovation is a novel consensus mechanism, Satoshi Plus, which unites Delegated Proof of Work (DPoW) and Delegated Proof of Stake (DPoS).

COREUSD showed a minor jump after a massive sell-off

Any daily close above $2 confirms further bullishness.

COREUSD has gained more than 25% in the past three days after a more than 50% sell-off. The pair holds above the short-term (21 EMA) , below 55- EMA, and long-term moving average (200-EMA) in the 4-hour chart. It hit a high of $1.5149 and is currently trading around $1.4304.

The bullish invalidation can happen if the pair closes below $1. On the lower side, the near-term support is $1.20. Any break below targets $1/0.55/$0.35.

The immediate resistance stands at around $2. Any breach above confirms bullish continuation. A jump to $2.36/$2.75/$3 is possible. A surge past $3 will take it to $4.25.

It is good to buy on dips around $1.25 with SL around $0.80 for TP of $2/$3.

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