- COMP price plunged from $445.50 to $431.85 on Friday’s trading session
- The 24-hour volume in Compound is at $138,021,525 with a 8.69% increase
- The COMP/BTC pair was trading at 0.007383 BTC with a loss of 1.85%
The 4-hour technical chart of Compound (COMP) price projects a downtrend. According to pivot points, COMP’s critical support level is placed at $420.52. Whereas if it moves up, the key resistance level to watch is $465.38. While diving into the weekly chart of a 4-hour time-frame, it completes a spinning top candlestick pattern.
SMA-20, 50 & 100 acts as another strong support in the coin. SMA-20 (purple) intersects below the SMA-50 (white), which projects a bearish trend. The price is also below SMA-100 (red). Investors may perceive a negative crossover in the SMA, and the price will also follow the negative trend.
RSI indicator (BULLISH), with a value of 48.60, indicates a sell signal in the coin. Moreover, Investors can see a downward slope from 56 to 48 in the index, and it may plunge more in future trading sessions.
Bearish Trend Confirmed In COMP price
COMP price traded at $431.85 with a gain of 2.37% in the last 24-hour. Furthermore, COMP price plunged from the resistance of $445.50. In contrast, the market capitalization stands at $2.024 billion. Technically, investors can perceive a negative crossover in SMA. Moreover, the price movement can be towards the support of $420.52.
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