CORE Faces Potential Downtrend Below $0.47 Resistance Amid Weak Demand in Nigerian Crypto Market
Main Idea
CORE, MAGIC, and DOGE show mixed price movements in Nigeria's crypto market, with CORE and DOGE facing selling pressure while MAGIC surges due to strong buying interest.
Key Points
1. CORE's price dropped 3% to $0.46 with a 5% decline in volume, indicating weakening demand below the $0.47 resistance level.
2. MAGIC surged 26% to $0.18, supported by a positive Balance of Power (0.34), signaling strong buying pressure and bullish momentum.
3. DOGE fell 5% to $0.19, with its RSI at 41.10, reflecting declining investor interest and potential further downside.
4. CORE's resistance at $0.47 and reduced market participation suggest investor caution, while MAGIC's rally may continue toward $0.21 if momentum holds.
5. DOGE could drop below $0.17 if selling persists, but a rebound in bullish sentiment might push it back toward $0.23.
Description
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