The Compound Price Prediction: Bullish Movement on the Horizon
The Compound price prediction shows that COMP is likely to cross above the 9-day moving average where it can start the bullish movement.
Key Points:
- Compound’s current price is $43.3 with a market cap of $326 million.
- Compound’s circulating supply is 7.8 million with a total supply of 10 million.
- Compound is ranked #91 on Coinmarketcap.
- Resistance levels for COMP/USD are at $73.0, $75.0, and $77.0.
- Support levels for COMP/USD are at $14.0, $12.0, and $10.0.
COMP/USD Market
COMP/USD is trading around the resistance level of $43.3. It is consolidating below the 9-day and 21-day moving averages. To strengthen the long-term technical picture, the market price needs to cross above the moving averages.
Compound Price Prediction: COMP/USD Ready for the Upside
The Compound price may regain back above the 9-day and 21-day moving averages. Bearish movement may push the coin down to support levels of $14.0, $12.0, and $10.0. On the upside, a sustained bullish movement may push the Compound price to resistance levels of $73.0, $75.0, and $77.0.
The Relative Strength Index (14) is facing the 40-level, indicating a potential bullish market. Support needs to be formed around $41.0 and $40.0 to provide protection for buyers.
COMP/BTC May Go Bullishly
The Compound price against Bitcoin may cross above the 9-day and 21-day moving averages to touch the resistance level of 2000 SAT. A further move towards the upper boundary of the channel could hit a resistance level of 2500 SAT. The Relative Strength Index (14) may also cross above the 40-level.
If the bulls succeed in breaking to the upside, the COMP price may locate the potential resistance level at 2700 SAT and above. On the contrary, a bearish move could bring the price to the support level of 700 SAT and below.
Alternatives to Compound (COMP)
The Compound price is currently forming a bullish movement. If the upward trend continues, COMP/USD may cross above the 9-day and 21-day moving averages, hitting the nearest resistance level of $55.0.
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Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.