Core DAO ($COREUSDT): Daily Chart - Bullish Momentum SetupI spend time researching and finding the best entries and setups, so make sure to boost and follow for more.
Core DAO ( OKX:COREUSDT ): Daily Chart Analysis for a Bullish Momentum Setup
Trade Setup:
- Entry Price: $1.3700 (Activated)
- Stop-Loss: $0.8576
- Take-Profit Targets:
- TP1: $2.5710
- TP2: $3.3331
Fundamental Analysis:
Core DAO ( OKX:COREUSDT ) is gaining traction as a blockchain platform focused on decentralized autonomous organizations (DAOs). Built to empower community-driven projects, MIL:CORE has seen increased adoption due to its robust governance model and efficient transaction capabilities. The platform’s ability to attract DeFi and dApp developers is driving its growth in the blockchain space.
With its focus on decentralization and governance, OKX:COREUSDT is well-positioned to capitalize on the growing interest in DAO-driven ecosystems. Recent network upgrades have bolstered confidence in its scalability and reliability.
Technical Analysis (Daily Timeframe):
- Current Price: $1.3720
- Moving Averages:
- 50-Day SMA: $1.1500
- 200-Day SMA: $1.0500
- Relative Strength Index (RSI): Currently at 66, signalling strong bullish momentum.
- Support and Resistance Levels:
- Support: $1.2000
- Resistance: $1.5000
The daily chart highlights a breakout above the $1.3000 resistance level, supported by increasing volume. The bullish continuation pattern suggests further upside potential toward the first take-profit target of $2.5710, with a long-term target at $3.3331.
Market Sentiment:
OKX:COREUSDT has witnessed a surge in trading volume, reflecting growing market interest. The token's association with emerging DAO projects and recent ecosystem partnerships have contributed to positive sentiment and increased investor confidence.
Risk Management:
The stop-loss at $0.8576 limits downside exposure, while the take-profit targets offer exceptional reward potential. TP1 provides an 88% return, while TP2 offers a 143% gain, making this setup ideal for swing traders aiming to capture significant upside.
Key Takeaways:
- OKX:COREUSDT is breaking out with strong bullish momentum, driven by growing adoption and ecosystem development.
- The trade offers excellent risk-to-reward ratios, suitable for both swing and long-term trading strategies.
- Discipline in execution is key to navigating potential market volatility.
When the Market’s Call, We Stand Tall. Bull or Bear, We’ll Brave It All!
*Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Traders should conduct their own due diligence before making investment decisions.*
