Core

Rise

<ul class="list-ic vertical"> 
 <li> 1 <a>Core (CORE) jumped almost 27% after rebounding from the demand zone.&nbsp;</a> </li> 
 <li> 2 <a>Social metrics display a positive development in sentiments.</a> </li> 
</ul> 
CORE gained traction and bounced back from the demand zones yesterday. Bulls were to be returning to defend the lower levels. Moreover, recent sessions have significantly improved social sentiments.&nbsp; 
Earlier, the crypto crashed from the critical support level at $1.5. The weakness in the broader market made the bearish chart worse, dragging CORE below the $1 level.&nbsp; 
The crypto was exchanging hands at around $1.04 at press time, with a negative intraday development of 5.4%. Despite positive developments in the social metrics, the short-term trend outlook is still negative. 
<h2 class="wp-block-heading" id="strong-social-sentiments-on-the-rise-strong">Social Sentiments on the Rise</h2> 
The recent recovery in the <a href="https://www.thecoinrepublic.com/2024/05/18/core-price-prediction-can-bulls-win-over-bears-whats-next/" target="_blank" rel="noreferrer noopener">Core price</a> might have given investors relief after a panic situation in the recent sessions. Moreover, there has been a similar development in the social sentiments, which may trigger a recovery. <iframe loading="lazy" title="Santiment Chart: Social Dominance (CORE), Social Volume (CORE)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=core-dao&amp;pt=CORE&amp;df=2024-03-31T18%3A30%3A01.319Z&amp;dt=2024-07-01T18%3A29%3A59.319Z&amp;emcg=1&amp;emhwm=1&amp;wm=social_dominance_total%3Bsocial_volume_total&amp;wax=0%3B1&amp;wc=%235275FF%3B%2368DBF4&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
Santiment data revealed that social dominance and sentiment curves drew an upward trajectory, indicating growth. It showed the users’ rising participation, which may create more demand.&nbsp; 
The social metrics reflect the change in interest of the social media user or community members, whether it is increasing or fading. Increased user activity on various social media platforms including X, telegram, and others may result in an increased demand.&nbsp; 
<h3 class="wp-block-heading" id="strong-will-core-recover-or-fail-again-strong">Will CORE Recover or Fail Again?</h3> 
From a price point of view, the recent breakdown below the $1.5 level dragged the price to bearish territory. Yesterday’s surge indicates the buyers intend to reclaim bullish territory, however, more effort is required to make a bullish reversal.  
<a href="https://in.tradingview.com/chart/COREUSD/k93M3Osg-Core-Rebounds-From-the-Demand-Can-It-Recover-Or-Fail-Again/">&nbsp; </a> &nbsp; <a href="https://in.tradingview.com/u/Ritika_TCR/"> </a>&nbsp; <a href="https://in.tradingview.com/"> </a>  
The price is below the 200-day EMA. Any weakness below the EMA could invite more selling volume. The recent surge indicates the buyers’ presence near the $0.80 demand zone. However, a follow-through is required for a reversal.&nbsp; 
On the higher side, the price needs to surpass the $1.5 hurdle to reclaim the bullish territory. Now, if the price surpasses the $1.5 level, it may head for a recovery. If the bulls fail and the price breaks below the $0.8 level, it may decline toward the $0.5 level.&nbsp; 
CORE bounced back, indicating potential buyer interest at the $0.80 demand zone. Despite the recent price rise, it remained below the critical $1.5 support-turned-resistance level and the 200-day EMA.&nbsp; 
Moreover, the positive social sentiments suggest increasing user engagement, which could drive demand. For a bullish reversal, sustained buying momentum is needed to overcome the $1.5 barrier.&nbsp; 
On the contrary, a drop below $0.8 could lead to a decline to the $0.5 mark. The market’s direction hinges on the ability of the bulls to maintain control above key levels. 
<h4 class="wp-block-heading">Disclaimer</h4> 
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.

Core Rebounds From Demand Zone: Will It Recover Or Fail Again?

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