The Compound price prediction shows COMP breaking toward the resistance level of $45 as the coin moves to cross above the moving averages.
Compound Prediction Statistics Data:
- Compound price now – $39.4
- Compound market cap – $312.7 million
- Compound circulating supply –7.8 million
- Compound total supply – 10 million
- Compound Coinmarketcap ranking – #90
Resistance levels: $60, $65, $70
Support levels: $20, $15, $10
COMP/USD is seen refreshing to the upside as the coin moves to cross above the 9-day and 21-day moving averages. While currently trading at $39.40, the Compound price may head toward the upper boundary of the channel to hit the nearest resistance level of $45. On the contrary, the seller may attempt to return to the market, but the bulls are likely to collect more on the price dips.
Compound Price Prediction: COMP Bulls May Push Higher
The Compound price may begin to maintain the upward movement if the newly touched $42.2 resistance level is maintained at all costs. At the moment, the technical indicator Relative Strength index (14) is seen moving to cross above the 40-level by creating more bullish signals, this could encourage more buyers to enter the market.
However, if the red line of the 9-day MA could cross above the green line of the 21-day MA, the Compound (COMP) may continue to perform well, and the market price may hit the resistance levels at $60, $65, and $70 respectively. Meanwhile, if the coin decides to make a quick turn back below the lower boundary of the channel, there may be a quick bearish drop which may likely roll the market down to the support levels of $20, $15, and $10.
COMP/BTC May Continue to Move Sideways
Against Bitcoin, the Compound price is trying to cross above the 9-day and 21-day moving averages as the price hovers at 1505 SAT. However, the technical indicator Relative Strength Index (14) also confirms the bullish movement as the signal line mores to cross above the 40-level.
Moreover, as seen on the daily chart, the potential resistance level could be located at 2400 SAT and above but a lower sustainable move may likely cancel the bullish pattern which could attract new sellers coming into the market with the next focus on the support level of 700 SAT and below.
The Compound price is expected to make a bullish cross above the 9-day and 21-day moving averages. Therefore, if the bulls defend the current market value of $39.4 the coin may continue its upward movement. However, any further bullish movement could then hit the potential resistance level at $50.
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