Compound Price Prediction for Today, August 22

Compound Price Prediction for Today, August 22 – COMP Technical Analysis

Updated: 23 August 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.

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The Compound price prediction shows that COMP is likely to cross above the 9-day moving average where it can start the bullish movement.

Compound Prediction Statistics Data:

Compound price now – $43.3
Compound market cap – $326 million
Compound circulating supply – 7.8 million
Compound total supply – 10 million
Compound Coinmarketcap ranking – #91

COMP/USD Market

Key Levels:

Resistance levels: $73.0, $75.0, $77.0

Support levels: $14.0, $12.0, $10.0

Compound Price Prediction for Today, August 22: COMP Technical Analysis — COMPUSD – Daily Chart

COMP/USD is trading around the resistance level of $43.3 after touching the daily high at $45.17 but still consolidating below the 9-day and 21-day moving averages. Meanwhile, the market price may need to cross above the moving averages for the long-term technical picture of the coin.

Compound Price Prediction: COMP/USD Ready for the Upside

The Compound price may regain back above the 9-day and 21-day moving averages as any bearish movement toward the south could bring the coin under the lower boundary of the channel; this could later hit the support levels at $14.0, $12.0, and $10.0. On the upside, a sustained bullish movement above the 21-day moving average may create more strength for the coin, which could push the Compound price to the resistance levels of $73.0, $75.0, and $77.0 respectively.

At the moment, the technical indicator Relative Strength Index (14) is facing the 40-level, which indicates that the market may go bullishly. Meanwhile, there may be a need for support to be formed around $41.0 and $40.0 to provide tight protection which could allow the buyers to concentrate on stirring action to the north.

COMP/BTC May Go Bullishly

Against Bitcoin, the COMP price may cross above the 9-day and 21-day moving averages to touch the resistance level of 2000 SAT. Moreover, as soon as the coin heads toward the upper boundary of the channel, it could hit another resistance level of 2500 SAT while the technical indicator Relative Strength Index (14) may cross above the 40-level.

However, if the bulls succeeded in breaking to the upside, the COMP price may locate the potential resistance level at 2700 SAT and above. On the contrary, any bearish move below the lower boundary of the channel 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 as the bulls get ready to push the price toward the upper boundary of the channel. However, if the bulls maintain the upward trend, COMP/USD may likely cross above the 9-day and 21-day moving averages, which could hit the nearest resistance level of $55.0.

Meanwhile, Wall Street Memes is now in the final stage, and this offers you the chance to buy at the current low presale price before listings on exchanges. Therefore, over $25m has been raised so far in the ongoing hot presale, which will soon end.

New OKX Listing - Wall Street Memes

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