Compound (COMPUSD) Price Remains Cold as it Continues to Consolidate
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COMPUSD Analysis – The Price Remains Cold as it Continues to Consolidate
COMPUSD price remains cold as it continues to consolidate. The year 2022 is closing in, and COMPUSD is yet to be fueled to push forward. The crypto market has been less active at the moment. However, traders are still sure of price expansion, which could change the market’s buildup for the next year. The buyers and sellers are silently amassing strength following the recent bearish fallout from the $41.220 pivot level. The seller was adamant about liquidated price action, so the price was pushed down to the $34.200 market level. However, 2023 could be a year for price reversal as we await the outcome of the consolidation.
COMPUSD Key Levels
Resistance Levels: 150.900, 90.710, 66.280
Support Levels: $41.220, $34.200, $28.620
The sell traders continued to trade beginning in the first quarter of 2022. The COMPUSD price increased as more supply came into play. The traders temporarily removed the price from the significant level of $150.900, and selling vigor remains strong. Traders became congested above the 66.280 key zone before there was room for further expansion. At the 28.620 key level, the sellers exhausted their selling resilience. As a result of this, they were unable to trade lower. Following a period of selling to the south, the COMPUSD price rises to consolidate.
The crypto market began to consolidate in the middle of 2022. After a long trend of price exchange, the COMPUSD price steps lower below the $41.200 key zone. The price has remained silent. There is no major strength showing on the MACD (moving average convergence and divergence) indicator. As more buildup from traders persists on the daily chart, there could be a change in the price trend. The stochastic oscillator is currently pushing forward as prices continue to consolidate.
Market Expectation
The 4-hour chart displays COMPUSD price activity that is currently ongoing. The buyers and sellers are swapping orders inside the range channel. However, traders should expect price expansion as the year comes to an end.
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