FxWirePro- COREUSD (Chart of the day)

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 trades higher after a major sell-off

Any daily close above $2 confirms further bullishness.

COREUSD gained more than 60% in the past three days. The pair holds well above the short-term (21 and 55 EMA) and below the long-term moving average (200-EMA) in the 4-hour chart. It hit a high of $1.9880 and is currently trading around $1.9180.

The bullish invalidation can happen if the pair closes below $1.20. On the lower side, the near-term support is $1.75. Any break below targets $1.50/$1.20.

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 $1.58-60 with SL around $1.20 for TP of $3/$4.25.

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