- Compound token over the monthly chart is trading under the bearish trend and falls below all critical moving averages of 20, 50, 100, and 200-Days.
- The crypto asset is presently facing a continuous selloff from the higher levels while facing the resistance of the short-term moving averages of 20 and 50-day lines.
- The pair of COMP/BTC is trading at 0.005815 BTC with a minor loss of -0.39%, and the ratio of COMP/ETH is CMP at 0.08871 ETH with an intraday change of -0.44%.
Compound token is trading under the significant downtrend at the monthly chart with no sign of any strong recovery. The digital asset is trading under the bearish trend, and it seems Bears have a strong grip over the counter. Meanwhile, the Bulls are facing rejection of the short-term moving averages of 20 and 50-Day lines, and volume action is also average.
COMP token needs to suppress its short to long-term moving averages of 20, 50, 100, and 200-day lines, with supportive volume activity for an upcoming bullish momentum. Meanwhile, the digital asset is now trying to overcome loss, and RSI is also regaining strength from the oversold zone. Support on the lower side is $281 and $242, whereas resistance on the higher side is $375 and $429.
Compound token is showing divergence for upcoming solid bullish momentum
Compound token over the weekly chart is showing the sign of upcoming solid bullish momentum. As the token showcases the divergence with the RSI heading higher and the coin is trading under the falling channel pattern. Presently, the token is trading under the falling channel pattern, and either side breakout will create a strong move. COMP coin is trading at $316 with an intraday loss of -1.26%, and the volume to market cap ratio is at 0.1193.
Relative Strength Index (BULLISH): Compound token RSI is trading under the bullish momentum and trying to move high after testing the lower levels. However, the coin is trading under bearish momentum, creating divergence with RSI and CMP at 49.
Support levels: $281 and $242
Resistance levels: $375 and $429.