This is an interesting chart, on one of the most hyped projects of the past few months. As you can see, this coin effectively pulled a 10X in 2024 before pulling back, which always happens after a massive run.
It appears that CORE is forming an inverse head and shoulders of sorts (usually more clear at a bottom than in consolidation like this). More importantly, whether it is an IHS or not, this has a clear resistance around $2.91. A break above that should send price back to the all time high. If that happens, we can talk about blue skies above. The “safest” trade is a retest of resistance as support - although this opportunity does not always present.
More information on CORE from CMC:
Core (CORE) is built as an L1 blockchain that is compatible with Ethereum Virtual Machine (EVM), therefore it can run Ethereum smart contracts and decentralized applications (dApps). The Core network is powered by the “Satoshi Plus” consensus mechanism, which secures the network through a combination of delegated Bitcoin's mining hash and delegated Proof-of-Stake (DPoS). The protocol is backed by its native token, CORE.
The developers of the project strive to create an infrastructure that operates at the core of web 3.0, offering revolutionary ideas to solve the blockchain trilemma.
The mainnet was launched in January 2023. The blockchain is governed by a decentralized autonomous organization (DAO), where the Core DAO is responsible for the development of the Satoshi Plus ecosystem.
*I own this token.
It appears that CORE is forming an inverse head and shoulders of sorts (usually more clear at a bottom than in consolidation like this). More importantly, whether it is an IHS or not, this has a clear resistance around $2.91. A break above that should send price back to the all time high. If that happens, we can talk about blue skies above. The “safest” trade is a retest of resistance as support - although this opportunity does not always present.
More information on CORE from CMC:
Core (CORE) is built as an L1 blockchain that is compatible with Ethereum Virtual Machine (EVM), therefore it can run Ethereum smart contracts and decentralized applications (dApps). The Core network is powered by the “Satoshi Plus” consensus mechanism, which secures the network through a combination of delegated Bitcoin's mining hash and delegated Proof-of-Stake (DPoS). The protocol is backed by its native token, CORE.
The developers of the project strive to create an infrastructure that operates at the core of web 3.0, offering revolutionary ideas to solve the blockchain trilemma.
The mainnet was launched in January 2023. The blockchain is governed by a decentralized autonomous organization (DAO), where the Core DAO is responsible for the development of the Satoshi Plus ecosystem.
*I own this token.
scott.melker@texaswestcapital.com