TradeCityPro | CORE: Watching Trendline and RSI for Next Move

👋 Welcome to TradeCity Pro!
In this analysis, I’ll be reviewing the CORE token. This project is one of the DeFi infrastructure developers for Bitcoin and also runs its own Layer 1 blockchain.

💥 The token currently holds a market cap of $826 million and is ranked 86th on CoinMarketCap.

⏳ 4-Hour Timeframe
As seen on the 4-hour chart, CORE is in an uptrend supported by an ascending trendline, with price consistently moving higher along it.

✅ In the last bullish leg, price only managed to retest the previous high around 0.8727 and is now undergoing a pullback.

⚡️ This shows signs of weakness in the bullish momentum. If the price fails to close above 0.8727 and drops back to the trendline, the risk of a trendline breakdown increases.

🔍 There’s also the potential for price to form equal highs and higher lows, forming an ascending triangle, which would favor a bullish breakout scenario.

🔑 Watch the RSI oscillator closely. Historically, every time RSI reached the 70 zone during a bullish move, the trend topped out and reversed. So if RSI manages to break above 70 this time, it could trigger a much stronger bullish leg.

📈 For a long position, potential entries include a breakout above 0.8727 or a bullish bounce off the ascending trendline.

🔽 For a short position, the first trigger would be a break of the trendline and activation of the 0.7560 support zone.

📝 Final Thoughts

This analysis reflects our opinions and is not financial advice.

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