Compound Price Prediction for Today, June 26: COMP/USD Could Drop Below $35 Support

Updated: 06 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 reveals that COMP may find a halt at $35 as the price is down by 1.06% over the last 24 hours.

Compound Prediction Statistics Data:

Compound price now – $37.3
Compound market cap – $285 million
Compound circulating supply – 7.6 million
Compound total supply – 10 million
Compound Coinmarketcap ranking – #108

COMP/USD Market

Key Levels:

Resistance levels: $50, $52, $54

Support levels: $27, $25, $23

Compound Price Prediction for Today, June 26: COMP/USD Could Drop Below $35 Support — COMPUSD – Daily Chart

COMP/USD may drop further lower to find support at the $30 level. However, the daily chart reveals that the Compound price may go lower below the 9-day and 21-day moving averages if the sellers increase the pressure. Moreover, if the bears continue to push the market further lower, immediate support below the $30 level may be located. Beneath this, further support may be found at $27, $25, and $23 levels.

Compound Price Prediction: COMP Price May Retreat to Trade Bullishly

As the daily chart reveals, if buyers can hold the support at $37, the Compound price may begin to climb higher, and bulls could expect immediate resistance to be located above the upper boundary of the channel, which is too close to the resistance level of $40.

However, crossing above this barrier may locate the higher resistance levels at $50, $52, and $54. Meanwhile, the technical indicator Relative Strength Index (14) is likely to cross into the overbought region, which shows that the market price may spike to the upside.

Against Bitcoin, the Compound price is moving to the downside within the descending channel, where the price is likely to head toward the 9-day and 21-day moving averages. Therefore, should the price cross below the moving averages, the market could hit the support level at 1000 SAT and below.

On the contrary, if the bulls could step back and push the market above the channel, it may create additional gains for the coin which could touch the resistance level of 1500 SAT and above. Moreover, the technical indicator Relative Strength Index (14) confirms that the market is been controlled by the sellers as the signal line moves to cross below the 60-level.

Compound Alternatives

The daily chart reveals that the price could move bullishly, but the Relative Strength Index (14) lines are foretelling that the coin could follow the bullish movement. It reveals that the trend is at its terminal, moving to cross into the overbought region, which implies that the strength of the trend is at its end.

On that note, there has always been a lot of intrigue and excitement around successful meme coins in the cryptocurrency market. One of the meme coins that has been generating noise for all the right reasons is Wall Street Memes ($WSM). However, in the ongoing presale, more than $10m has been raised so far.

Read more:

CoinCodex - Our Recommended Crypto Research Platform

Our Rating