Compound (COMPUSD) Strikes a Lower Support Level
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Free Crypto Signals Channel
Free Telegram Channel
Compound Analysis – The Market Strikes a Lower Support Level at $30
Compound strikes a lower support level at $30 due to bearish actions. The market’s former residence was above the $50 support zone. However, bearish activities ensure the market could not attack the resistance level at $75 very well. Next was the pressure on the market to drop lower, and gradually the price slips below the $50 support level to a lower support of $30.
Compound Key Levels
Resistance Levels: $50, $75
Support Levels: $15, $30
Compound Price is ushered by a downward trend past several key zones until the market reaches the strong support level at $100. This forces the coin into a sideways movement. This starts from late January and continues into early May. By this time, the support level becomes weakened. This allows the coin to slump to the next major support level, which is $50.
COMPUSD at $50, the market continued its sideways movement as price tried to prevent a free fall in the market. The coin could not push upward due to a new resistance formed at $75. The sideways movement last only for a month, between the 11th of May and the 11th of June. This movement happens before the price slumps below the support and price strikes another support level. The Parabolic SAR (Stop and Reverse) remain firmly above the daily candles for a downward trend.
Market Expectations
COMPUSD the 4-hour chart, the market is trading close to the $30 support level and has recovered after a slight drop. The MA period 20 (Moving Average) remains above the candlesticks as a resistance. The Stochastic has its line rising towards the overbought region which also signals a potential drop in price. The $15 price line is the next point of call if the market drops.
How To Buy Lucky Block
Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
