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Bitcoin (BTC), despite entering the halving month, continues to move slowly, reflecting the uncertain sentiment among analysts in the broader cryptocurrency market. For over a week, leading cryptocurrencies like Bitcoin and Ethereum have been moving within a narrow consolidation.
Surge in Momentum for CORE
However, the CORE price is experiencing a high-momentum surge, recently reaching its 52-week high of $3.68, and gaining $36.3 within a day. Will this breakout lead to a more significant recovery? The Core token began a serious recovery process in the fourth week of March, with the price rebounding from a support level of $0.534. Within two weeks, the token saw an increase of 547%, trading around the $3.5 level.
With a market value of $3.08 billion, the CORE price has entered the list of the top 50 cryptocurrencies. The recent surge in CORE price is largely attributed to Core DAO’s launch of coreBTC. This move securely ties Bitcoin to CORE, enriching the DeFi experience with Bitcoin’s security features. Additionally, coreBTC was designed with two primary goals in mind.
Price Prediction for CORE
Furthermore, a higher time frame analysis shows that the altcoin is developing a bullish reversal pattern known as a rounding bottom. This chart pattern could indicate that the token’s downtrend has matured and a potential uptrend is emerging. Moreover, today CORE broke through the $3.5 resistance with a high-volume candle, providing buyers with the next step to continue the rally.
Experts believe that the post-breakout rally could extend the current recovery to $3.74 and then to $4.6. However, the likelihood of such a high-momentum rally continuing with less support from external news is lower. Therefore, newcomers might wait for a slight pullback to capture a better entry opportunity.
