Compound (COMPUSD) Buyers Struggle to Gain Momentum
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Market Analysis – COMPUSD Buy Momentum Slows Down
Compound buyers struggle to gain momentum. Buyers of Compound cryptocurrency are currently facing challenges as they struggle to secure more wins in the market. Despite their efforts, they lack the necessary strength to achieve a significant breakthrough. Over the past week, the bears have dominated the crypto market, with the buyers only managing to make some progress. However, sell traders have slowed down the price of Compound, preventing it from gaining momentum.
Compound Key Levels
Resistance Levels:$68.620, $79.730
Support Levels: $45.030, $34.510
The bullish trend of Compound came to an end when it failed to breach beyond the significant level of 61.320. Following this rejection by the buyers, the sellers tightened their grip on the market. At the beginning of this year, Compound experienced a decline, with the price dropping to the $45.030 zone. However, the buyers regained their momentum after reaching a significant level of 45.030.
Market Expectation
Despite these fluctuations, Compound has yet to experience a significant breakthrough. The buyers were recently repelled after attempting to push the price towards the middle level of the Bollinger Band. The Relative Strength Index (RSI) has not provided a clear signal for a stronger trend. This week, the crypto price seems to lack the necessary force for expansion. However, with the help of accurate crypto signals, traders can still find opportunities to succeed in the market. The buyers are not out of the fight just yet.
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