- Compound (COMP) prices witnessed an increase in buying volume by 27% in 24 hours.
- COMP price is sustaining below the 50-day and 100-day EMA levels.
- Compound (COMP) is currently trading at $68.63.
Compound (COMP) coin is currently moving in the uptrend direction. The coin price is forming a good bullish pattern and the COMP price is moving with good momentum.
The Compound (COMP) coin has a market capital of $534,685,276 with an increase of 12.37% in 24 hours. The coin is currently trading at 68.63 and the price has given a rise of 12.41% in today’s market session. This indicates that the coin is in bullish momentum and it is gaining buyer’s interest.
The compound coin has made a 52-week high of $84.86 and a 52-week low of $25.55. The coin has an average volume of $185,856,751 which increased by 28% in 24 hours.
The Compound (COMP) made a high of $915.60 in Mat 2021 and after that, the downtrend in COMP price started. The coin price has shown a decline of almost 97% in just 13 months. However, the price found support at the $26 level and it rebounded from there.
The Compound price has consolidated in between the range for one year and recently the price has broken out of the range of $58.67-$26.38.
The COMP price has shown an up move of around 133% in just a month. At press time, the coin is forming a bullish pattern and the overall structure is in an uptrend direction.
Compound (COMP) Price Analysis
EMA
In the daily timeframe, the price of Compound coins is currently moving above the 50-day and 100-day EMA levels. This indicates the rise of bullish momentum and the price of the coin might rise in the upcoming days.
MACD
The MACD line for the Compound coin is trading above the signal line. Also, both the lines are above the zero line, this indicates that the coin has some strength and it is likely that the price might rise soon.
Conclusion
In conclusion, the analysis indicates that the price of Compound (COMP) is displaying signs of positive momentum which may favor a price rise in the future. The indicators like MACD, RSI, and EMA are also indicating positive momentum in the upcoming future. The volume of the coin is also observed to be increasing. This shows that the buyers are taking an interest in the coin.
Technical Levels
- Support Level – $57.58.
- Resistance Level – $78.82.
Disclaimer
The views and opinions of the author, or anyone named in this article, are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.