The Compound price prediction shows that COMP moves to the upside as any close above the $2000 price mark is expected.
Compound (COMP) Statistics Data:
- Compound price now – $56.55
- Compound market cap – $408.9 million
- Compound circulating supply – 7.2 million
- Compound total supply – 10 million
- Compound Coinmarketcap ranking – #81
Resistance levels: $70, $75, $80
Support levels: $45, $40, $35
Your capital is at risk
COMP/USD is seen trading at $56.55 after recording an intraday high at $61.30 during the European session today. Looking at the daily chart, Compound (COMP) is following the footsteps of Bitcoin (BTC) as its margin of gains has been limited this time around. COMP/USD is trading above the 9-day and 21-day moving averages after the beginning of today’s trade at $54.60.
COMP May Price Spike to the Upside, Buy TAMA and Hold
Since the beginning of this month, after the Compound price touches the monthly high of $62 and since then begins to head to the south, currently trading at the $56.55 level. In the meantime, the Compound price may move towards the upper boundary of the channel to touch the nearest resistance at $65.
However, the Compound price may begin to do well and the price could hit the resistance levels at $70, $75, and $80 respectively. Meanwhile, should the technical indicator decide to make a quick turn to the south, there may be a cross below the lower boundary of the channel and the bearish drop may likely roll the market down to the support levels of $45, $40, and $35 but the Relative Strength Index (14) is moving to cross above the 60-level.
Against Bitcoin, as the red line of 9-day MA remains above the green line of 21-day MA, the market price may focus on the upward movement within the channel. COMP/BTC is currently trading at 3053 SAT as the next key resistance may come to be at 3500 SAT and above.
On the downside, a possible bearish movement below the 9-day and 21-day moving averages may come into play, when this is done, the support level of 2500 SAT and below could be visited. Meanwhile, the market may continue to have a bullish day because the Relative Strength Index (14) indicator remains above the 60-level, suggesting more bullish signals.
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