Compound Price Prediction for Today, September 23 – COMP Technical Analysis

The Compound worth prediction is struggling to commerce close to the resistance stage of $40 because the coin retreats under the shifting averages.

Compound Prediction Statistics Knowledge:

Compound worth now – $39.49
Compound market cap – $314.6 million
Compound circulating provide – 7.8 million
Compound whole provide – 10 million
Compound Coinmarketcap rating – #59

COMP /USD Market

Key Ranges:

Resistance ranges: $55, $60, $65

Assist ranges: $25, $20, $15

COMP/USD opens at this time’s commerce with the opening worth of $39.56, through the European session; the coin might drop to the help stage of $38. On the time of writing, the Compound worth is altering arms at $39.49, barely down by 0.29% after a rebound from the $39.25 stage. In the mean time, the every day chart reveals that the technical indicator Relative Power Index (14) is hovering under the 50-level, which suggests the coin may very well be susceptible to additional losses.

Compound Worth Prediction: Will COMP see a Additional Draw back?

In line with the every day chart, if the sellers convey the Compound worth beneath the every day low at $39.25, the subsequent help stage might head towards the decrease boundary of the channel and an extra draw back might come to play out throughout the market within the unfavorable strikes.

Furthermore, if the $38 help breaks, additional help ranges may very well be positioned at $25, $20, and $15 whereas the resistance ranges may very well be discovered at $55, $60, and $65 in case the Compound worth crosses above the channel. Nevertheless, the technical indicator Relative Power Index (14) might slide under the 40-level, if the market efficiently positive aspects extra downsides, the elevated bearish strain might drive the Compound worth towards the decrease boundary of the channel.

COMP/BTC Might Vary-bounds

Towards Bitcoin, merchants can see that the Compound worth might observe a bullish motion. Nevertheless, if the worth crosses above the higher boundary of the channel, it might attain the resistance stage of 1500 SAT the place the closest goal is positioned. In the meantime, the continuation of the uptrend might hit the primary resistance stage at 2000 SAT and above.

Nonetheless, if the sellers convey the coin under the 9-day and 21-day shifting averages, it might attain important help at 1000 SAT and under. Nevertheless, the Relative Power Index (14) is now shifting in the identical course, indicating sideways motion.

Alternate options to Compound

The every day chart reveals that the Compound worth might transfer bullishly, however the Relative Power Index (14) strains foretell that the coin might observe a sideway motion. It reveals that the pattern is at its terminal, shifting under the 50-level, which means that the power of the pattern is at its finish.

Nevertheless, the Wall Avenue Memes token has reached its conclusive stage, granting traders the chance to accumulate it on the present presale worth earlier than it turns into obtainable on exchanges. In the meantime, it has already raised over $25 million in its presale because it anticipates its official launch within the coming days.

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