Compound Price Prediction for Today, July 11: COMP/USD May Spike Above $70 Level

Updated: 11 July 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Join Our Telegram channel to stay up to date on breaking news coverage

The Compound price prediction is heading toward the upper boundary of the channel as the price touches the daily high at $68.58.

Compound Prediction Statistics Data:

Compound price now – $66.02
Compound market cap – $508.8 million
Compound circulating supply – 7.7 million
Compound total supply – 10 million
Compound Coinmarketcap ranking – #18

COMP/USD Market

Key Levels:

Resistance levels: $90, $100, $110

Support levels: $45, $35, $25

Compound Price Prediction for Today, July 11: COMP/USD May Spike Above $70 Level — COMPUSD – Daily Chart

COMP/USD is trading above the 9-day and 21-day moving averages to touch the daily high at $68.58. At the time of writing, the Compound is changing hands at $66.02, having gained over 11.12% since the beginning of the European session. However, with latest the recovery, the coin is likely to cross above the upper boundary of the channel and move into the positive zone.

Compound Price Prediction: Would COMP Stay Above $66?

The Compound price is currently forming a bullish movement as the bulls push the price to touch the channel. However, if the bulls maintain the upward trend, COMP/USD may likely cross above the upper boundary of the channel which could hit the resistance levels of $90, $100, and $110. In other words, any strong selling pressure may drag the price toward the lower boundary of the channel if the bears step back into the market.

However, if the Compound slide below the moving averages, the bears could bring the price to the supports of $45, $35, and $25. Meanwhile, the technical indicator Relative Strength Index (14) is seen moving to cross above the 70-level, indicating a possible bullish movement.

Against Bitcoin, the Compound price keeps moving sideways but the current market movement may follow an uptrend if the buyers keep the price above the 9-day and 21-day moving averages to face the upper boundary of the channel.

Moreover, as the technical indicator, Relative Strength Index (14) moves to cross above the 70-level, once it moves above this level, the market price may resume an upward trend which could hit the resistance level of 2900 SAT and above. Meanwhile, a retest below the 21-day moving average could lower the price to the support level of 1400 SAT and below.

Alternatives to Compound

The Compound price is fetching a decent hike in the last 24 hours, which takes the coin above the resistance level of $65 level. Meanwhile, COMP/USD is one of the most emerging coins in the market at the moment, and it is likely to touch $70 in the coming days as its next resistance.

Moreover, the good news for investors is that the next opportunity to invest early in a viral meme coin is here right now. Wall Street Memes, a new meme coin currently in presale, has established an enormous following and looks poised to mint a new set of crypto millionaires as more than $13m has been raised so far in the ongoing presale.

New OKX Listing - Wall Street Memes

Rating