The Compound price prediction shows that COMP begins to move to the upside as the bears lose grip over the coin.
Compound Prediction Statistics Data:
- Compound price now – $52.35
- Compound market cap – $378.8 billion
- Compound circulating supply – 7.2 million
- Compound total supply – 10 billion
- Compound Coinmarketcap ranking – #87
Resistance levels: $60, $65, $70
Support levels: $30, $25, $20
COMP/USD is seen attempting to cross above the upper boundary of the channel as the coin moves to touch the daily high of $55.92. For the past couple of days, the coin has been trading above the 9-day and 21-day moving averages heading to the upside.
Compound Price Prediction: Compound (COMP) Begins the Upward Movement
The Compound price is expected to stay above the 9-day and 21-day moving averages for it to gain the upside. Therefore, if the bulls defend the $52 level, the coin may continue its upward movement by crossing above the upper boundary of the channel. However, any further bullish movement could then hit the potential resistance levels of $60, $65, and $70.
Nevertheless, this prediction may not be right if the bears return to the market and break toward the lower boundary of the channel, the Compound price could touch the low of $30, $25, and $20 supports. Moreover, the technical indicator Relative Strength Index (14) is staying within the overbought region; suggesting that more bullish movements are likely to play out.
Against Bitcoin, the Compound price is also facing the north as the coin could cross above the upper boundary of the channel with the next resistance level at 2700 SAT. Therefore, any further bullish movement could push the coin above the upper boundary channel and once this comes to focus, higher resistance could be located at 3000 SAT and above.
On the contrary, should the bulls fail to increase the pressure, they may head towards the lower boundary of the channel, and crossing below this barrier could hit the support level of 1700 SAT and below while the technical indicator Relative Strength Index (14) remains within the overbought region, showing that buyers are dominating the market.
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