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•COMP/USD is currently priced at $144.57 and has increased by 1.77% over the past day
•The technical indicators suggest a positive outlook for the near term
•The trading volumes have increased by 7.04% over the past day
Short Term View: Bears fail in the endeavor to slash Compound Price
The Compound price today is $144.57 USD with a 24-hour trading volume of $107,397,763 USD. COMP Coin is up 1.77% in the last 24 hours. The trading volumes have increased slightly over the past day as buyers have amped up the pressure. The Volume to Market Cap Ratio stands at 0.1106 for the altcoin.
Compound Price is currently transacting above the 20,50 SMA on the four hour chart which reinstates the bullish momentum at play in the market. In the case that the bulls are able to overwhelm the selling pressure, the price can break its immediate resistance level at $148. On the flip side, the support for the altcoin resides at $140.70 for the altcoin. Compound price is transacting significantly below it’s all time high of $911.20 which it clocked on May 12,2021.
Long Term View for Compound Price
The histograms are about to turn positive on the daily chart for COMP Coin. Moreover, a bullish crossover could be seen on the daily chart if the bulls keep up the pace. Thus, indicating that a trend reversal might be on the verge. The RSI is currently transacting at 52.48 and has recently moved past the halfway mark. Thus, we can expect the RSI to take a flight from the equilibrium levels and the price to rise for the near term.
Conclusion
The technical indicators and the market sentiment for COMP Coin both are not extremely bullish and hence no doubt the price may take a move towards the north but eventually end up discovering new lows.
Support: $140.70
Resistance: $148
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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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.
