COMP/USD overthrew AXS/USD to move to the First position on the crypto daily mover list. COMP/USD has moved just 9% today. A closer examination of the crypto’s value activity reveals that this wasn’t an easy task for the crypto.
Compound Current Price: $49.41
Compound Market Capitalization: 366.3 Million
Compound Total Supply: 10 Million
Compound Rank: 88
Important Levels:
Resistance: $49, $50, $55
Support: $40, $35, $30
COMP/USD Price Prediction: Compound Upward Momentum is Getting Exhausted
Looking at the COMP/USD four-hour chart one will easily observe that the crypto’s upward movement is weak. Although there are more forms of bullish candles, however, these candle portrays that the bulls and bears are in a tough contest. Furthermore, the 9 and 21-day EMA lines remain below the value activity, but it seems that the faster one will soon cross above the price activity. Eventually, if the two EMAs cross above the value activity, and then cross each other this crypto value falls lower. Consequently, this downtrend will force compound value to lower support near $40 and $30.
Also, the Trend Strength indicator: RSI, affirms that the trend is getting weaker. This is revealed as the RSI indicator curves are running towards the highly sold area: below 30%.
COMP/USD Price Prediction: Compound Trend Reversal is Around the Conner
On COMP/USD the daily chart, the price activity seems bullish, but the RSI lines are foretelling that trend. The relative strength indicator, reveals that the trend is at its terminal, having reached the 100% level. This implies that the strength of the trend is at its end.
At this point, we can anticipate that the uptrend will soon reverse. Therefore, traders should prepare a sell order.
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Source: https://insidebitcoins.com/news/compound-price-prediction-for-june-25-comp-usd-moves-higher