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The Compound price prediction is heading toward the upper boundary of the channel as the price touches the daily high at $56.74.
Compound Prediction Statistics Data:
- Compound price now – $54.7
- Compound market cap – $435.2 million
- Compound circulating supply – 8.1 million
- Compound total supply – 10 million
- Compound Coinmarketcap ranking – #142
COMP/USD Market
Key Levels:
Resistance levels: $75, $80, $85
Support levels: $40, $35, $30
COMP/USD is likely to cross above the 9-day and 21-day moving averages to touch the daily high at $56.74. At the time of writing, the Compound is changing hands at $54.77, having gained over 1.74% since the beginning of the European session. However, with latest the recovery, the coin is likely to move near the upper boundary of the channel.
Compound Price Prediction: Would COMP Cross Above $60?
The Compound price is currently forming a bullish movement as the bulls push the price to touch the moving averages. However, if the bulls begin the upward trend, COMP/USD may likely cross above the upper boundary of the channel which could hit the resistance levels of $75, $80, and $85. 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 slides and face the south, the bears could bring the price to the supports of $40, $35, and $30. Meanwhile, the 9-day moving average may need to cross above the 21-day moving average to indicate a possible bullish movement within the channel.
COMP/BTC Moves in the Same Direction
Against Bitcoin, the Compound price keeps moving sideways but the current market movement may follow an uptrend if the buyers push the price above the 9-day and 21-day moving averages to face the upper boundary of the channel.
Moreover, as the 9-day MA continues to hover around the 21-day MA, once it crosses and heads toward the north, the market price may resume an upward trend which could hit the resistance level of 1200 SAT and above. Meanwhile, any bearish movement toward the lower boundary of the channel could lower the price to the support level of 600 SAT and below.
In his perspective, @o_erycc shared with his followers on X (formerly Twitter) his analysis of $COMP, indicating that a breakdown has occurred‼️ Anticipating a significant downturn.
$COMP – Break down done ‼️
Expecting a dump #Crypto #COMP #cryptocurrency pic.twitter.com/ITG4mafIfo— E R Y X (@o_erycc) May 12, 2024
Compound Alternatives
The Compound price on the daily chart indicates potential bullish movement, although the 9-day moving average has yet to surpass the 21-day moving average. This suggests the trend is nearing its conclusion, particularly as it dips below the daily high of $56.74, indicating weakening momentum. Meanwhile, the Dogeverse token has entered its final phase, offering investors the chance to secure it at the current presale rate before its exchange debut. With over $15 million raised in presale funds, the token is poised for its official launch soon.
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