CORE Heats Up With Bullish Action, What’s Behind the 11% Price Gain and 216% Volume Spike?

• An 11% gain has pushed CORE to trade at $0.83.
• Daily trading volume has surged by over 216%.

A bullish wave has pushed the crypto market cap to reach $3.5 trillion following a 4.51% gain. Major assets are riding on the green wheels, reclaiming the recent highs, with Bitcoin hitting a new all-time high at $111,861 for the first time. Among the crypto assets, CORE has emerged as the top trending coin of the day, registering a surge of over 11% in the last 24 hours

In the early hours, CORE traded at its bottom level around $0.7516. Later, the price has mounted to a daily high at the $0.8867 range, after breaking the resistances between $0.7660 and $0.8787. A sustained bullish rally can emerge only after the price break above $0.90 mark.

At press time, CORE is trading within the $0.8375 level, with a market cap of $839 million. Furthermore, the asset’s daily trading volume has surged by over 216%, reaching $60.33 million, according to CoinMarketCap data.

Is CORE Ready to Hold Its Ground?

The current trading pattern of CORE reflects a positive sentiment. With the support of bulls, the price could climb to the $0.8415 range. A strong upside correction might initiate the asset’s golden cross to emerge. It will likely push the price toward a high range at around the $0.86 mark.

Assuming the bears took charge of the asset, it may try reclaiming the lost dominance. The asset might find its initial support at the level of $0.8292. Upon the price falling further, CORE may trigger the formation of the death cross, pulling the price back toward the $0.80 threshold

*CORE chart (Source: TradingView)*CORE’s Moving Average Convergence Divergence (MACD) line has crossed over the signal line, indicating bullish momentum and the upward price movement is gaining strength. This crossover suggests a potential buy signal. Besides, the Chaikin Money Flow (CMF) indicator found at 0.18 suggests the inflow of capital, supporting the current uptrend. Notably, the buyers are active, and sentiment is leaning bullish.

Moreover, the asset’s daily relative strength index (RSI) of 61.06 shows a slight positive sentiment with room to grow, gradually hitting the overbought territory. CORE’s Bull-Bear Power (BBP) reading resting at 0.0611 points out a mild bullish pressure in the market.

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