COMPOUND (COMPUSD) Price Is Still Positioned in a Ranging Market
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COMPUSD Analysis: The price is still set to consolidate
COMPOUND (COMPUSD) price is still positioned in a ranging market as sellers are posing to displace the price tendency downward. As a result of the current price consolidation, the price expansion season has been spread out. The sellers are ready to reveal the selling moment back to $43.700 as the moving average crossing prepares to turn over. As a result, the fluctuating cryptocurrency market will continue.
COMPOUND Trade Levels
Resistance Levels: $172.600, $64.550
Support Levels: $43.700, $28.4600
The price tendency has been sustained inside the ranging phase between $43.700 and $63.550, the key zone. The market’s prospects have been held down at this range, and trades have been prevented beyond it. This has resulted in a price uplift from $28.600 to $38.600. The sellers were previously in control of the COMPUSD price tendency as the market plummeted downward right from the 172.600 key zone to the $28.460 key zone. After a long stretch of bearish trade on the COMPUSD price, the buyers began to shift price focus north from the $28.460 significant zone.
However, the bullish run was cut short when the price began to consolidate after hitting the $64.550 key zone. Currently, sell traders are ripping the price action back to consolidate. The RSI (Relative Strength Index) is also open for selling action on the daily chart. Hopefully, in the coming weeks, the buyers will be strong enough to pull the price momentarily up beyond the $64.550 key zone.
Market Expectations
The sellers are already on stage on the 4-hour chart as a selling moment is currently seen. The price is therefore ready to go lower as the crypto price continues in a range-bound phase down to the $28.460 key zone.
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