Compound Price Prediction: Will COMP Move out of the Range?

• Compound (COMP) prices saw a 7% rise in buying activity over the course of a day.
• The price of COMP is continuing to trade below the 50-day and 100-day EMA levels.
• The price of Compound (COMP) is $68.63 at the moment.

The Compound (COMP) coin is now moving upward. The COMP price is moving with good momentum, and the coin price is developing a strong bullish pattern.

The market value of the Compound (COMP) coin has increased by 2.89% over the past 24 hours to $561,583,347. The price of the coin, which is currently trading at 72.03, has increased by 2.95% during today’s trading session. This suggests that the coin is experiencing bullish momentum.

A 52-week high for the COMP coin was $84.86 and a 52-week low was $25.55. The average volume for the coin is $185,856,751, up by over 7% in the past 24 hours.

The Compound (COMP) reached a high of $915.60 in March 2021, at which point the price of COMP began to decline. The price of coins has dropped by over 97% in just 13 months. However, the $26 level provided support for the price, and it subsequently rose from there.

For a year, the Compound price fluctuated within this range before breaking out at a price of $58.67-$26.38 recently.

The COMP price has increased by around 133% in just a month. At press time, the coin is developing a bullish pattern and the entire structure is moving upwards.

Compound (COMP) Price Analysis

EMA

The price of the Compound coin is currently rising above the 50-day and 100-day EMA levels on a daily basis. This suggests that bullish momentum is increasing and that the price of the currency may increase in the next few days.

MACD

The Compound coin’s MACD line is currently trading above the signal line. Additionally, the fact that both lines are above the zero line suggests that the coin has some strength and that the price may rise soon.

Conclusion

The analyses suggest that the Compound’s (COMP) price is showing upward momentum, which could favor a price increase in the future. Positive momentum is also predicted by indicators like the MACD, RSI, and EMA in the near future. Additionally, it is seen that the coin’s volume is growing. This demonstrates that the purchasers are interested in the coin.

Technical Levels

• Support Level – $57.58.
• Resistance Level – $78.82.

Disclaimer

The views and opinions of the author, or anyone named in this article, are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.