CoreWave Inc. Technical Analysis and Mid-Term Outlook

CoreWave Inc. Technical Analysis and Mid-Term Outlook

CoreWave Inc. has reacted to a key confluence zone formed by horizontal support and an ascending trend line.

A bullish pin bar has also developed at this confluence area, as shown on the chart. This pattern is an important price-action signal and may indicate potential upward momentum.

My Technical Outlook:

I expect buying pressure at the current market price (CMP) to push above the next resistance zone aligned with the 23.6% Fibonacci retracement level. If price successfully breaks and sustains above this level, the asset may advance further toward the descending trend line highlighted on the chart.

This setup aligns with a mid-term to multi-month trade outlook, given the presence of three significant Fibonacci levels within this projected move.

Trade Potential: 16% – 60%

I am ridding of the CMP

As always, caution is advised when navigating market volatility and key reaction zones.