COMPOUND (COMPUSD) Bearish Slump Is Being Held up by Consolidation
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COMPUSD Analysis – The Bearish Slump Is Currently Being Held up by Consolidation
COMPUSD bearish slump is being held up by consolidation. The bear market has reached a short peak of its momentum as we begin to see prices consolidating. There should therefore be the anticipation of further selling inclination as more openings progress. The price action oscillator is still ramping on selling motion despite price consolidation on the daily chart timeframe. More inpouring of selling activity will soon come into the scene after consolidation.
COMPUSD Key Zones
Resistance Zones: $171.400, $66.490
Support Zones: $42.470, $28.540
The buyers were previously dominant following bearish heavy disposition on the crypto market. There was a bearish slump from the $171.400 key zone, with more key zones appearing to be broken on the COMPUSD price. The Parabolic SAR (Stop and Reverse) indicator gives us a glimpse of a bearish slump before buyers ultimately pick up price motion at the $28.540 significant level. In an attempt to fill in the volume already created by sellers, buyers began to nurture price movement forward
Buyers’ climbing up to the $42.700 market level gave rise to a price swing on the market end. The COMPUSD price continue to nurture the price on the trend line till the price got hit at $66.490 significant level. Here, the sellers are now disposing price orders down back to the $28.540 key zone but are now held up in consolidation. The Parabolic SAR (Stop and Reverse) and the Moving Average Convergence and Divergence indicator still move bearish despite price unification.
Market Expectation
The 4hr chart shows the price slump motion. From the trend line, the traders are now consolidating. At the end of price consolidation, we should expect a new bearish slump in the market down to the $28.540 key zone.
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