COMPUSD Is Falling Back to a Significant Key Level
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COMPUSD Analysis – Price Is Falling to a $391.00 Key Level
COMPUSD is falling back to a significant level as the market continues to move in a side-way movement. As a result of the conflict between buyers and sellers, the market continues to range between significant key levels. As a result of this accumulation phase, the price is expected to return to $391.00 to either break through it, or reverse its course.
COMPUSD Significant Levels
Resistance Levels: $840.00, $528.00
Support Levels: $391.00, $221.00
COMPUSD began falling after a sharp reversal at the $840.00 key level. There was sharp liquidity run downward as sellers seemed to be in control of the market. The price then fell to $391.00, where we see price reactions. Afterward, the market rallies downward to $221.00 before changing its direction.
Then the buyers stepped in, and the price gained bullish momentum. It then rallied back to the $391.00 key level. The price, however, continues to range as the price is seen reacting between $528.00 and $391.00, two significant key levels. On the daily chart, the Parabolic SAR is seen above the candlesticks, and the price is seen falling. This shows a presence of strong sell, and we expect the price to fall back to $391.00 and even break beyond it.
Market Expectations
On the 4hour chart, we see falling after failing to make a significant high. The price is, however, set to fall back to a significant level. The bearish candlesticks movement also indicates a fall. The MACD (Moving Average Convergence and Divergence indicator) displays price above the zero level. There is now a cross between the signal line and the MACD line. However, this shows that the price is expected to keep falling. Therefore, we anticipate the price to keep falling to $391.00 and even break beyond it.
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