COMP PRICE ANALYSIS: Can we say uptrend in the coin?

  • The coin is trading at $385.07 around 1.57%up form the previous level 
  • The coin is facing resistance from it’s all major EMA 
  • The coin is trading at 0.01211 BTC around 1.93% up and 0.197 ETH around 1.24% down with respect to ethereum and bitcoin
Tradingview

Compound was founded in 2017 by Robert Leshner and Geoffrey Hayes. Its function is that the investor will earn interest on deposit of their cryptocurrency. The coin has the market  capitalization of $3,832,657,426 and the circulating supply of 5,360,409.00 COMP. Cpoi is showing some great movement in the volume which indicates a good volatility in the stock. Last 24hrs volume of the coin is $144,330,407

CHART ANALYSIS 

On charts we can see that the coin  had given the breakout from the descending triangle pattern. After the breakout the coin had started the bull run and faced rejection from the resistance and went to retrace the support. The volume of the coin indicates the starting of bull movement in the coin. 

INDICATOR ANALYSIS 

Tradingview
- Advertisement -

According to the indicator analysis we find out that the coin is trading below its all major exponential moving average and 200 EMA  crossing the 50 EMA which shows the formation of the death cross. 

RSI is trading at 48.5 after touching its oversold zone. No sign of any divergence in the coin 

In MACD  we can see that SIGNAL line had crossed the MACD line and rising histogram shows the increasing bearish momentum in the coin 

MAJOR SUPPORT AND RESISTANCE FOR THE COIN IS AT 

S1= $366.25 AND S2= $ 327.08

R1= $454.60 AND R2= $ 539.61

Download our App for getting faster updates at your fingertips.

Steve Anderrsonhttp://www.thecoinrepublic.com
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

Similar Articles

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

We Recommend

Top Rated Trading Platforms

Top Rated Cryptocurrency Exchange