Compound (COMPUSD) Sellers Hints At Sell Breakout
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Market Analysis – Compound Remain in Consolidation Fold
COMPOUND sellers hint at a sell breakout. Compound has been experiencing a consolidation phase in the crypto market, with the price struggling to gain momentum between the key levels of $76.820 and $68.250. This consolidation phase indicates a period of indecision and a battle between buyers and sellers for control of the market.
Compound key level
Resistance Levels: $98.300, $81.600
Support Levels: $56.900, $68.250
Despite starting with a weak foot, the buyers in the Compound market gained power and rose after consolidating above the $56.000 significant level. This consolidation phase indicates a temporary pause in the market and a potential accumulation of prices. Over time, the buyers in the compound market continued to make extra efforts, pushing the price up to the $100.000 level. This indicates strong bullish sentiment and a potential target for the buyers.
The bulls in the market recently exited their pursuit, leading to a drop in price to the $68.250 key level. This indicates a potential resistance level and a temporary setback for the buyers. Despite the accumulating phase for Compound, the sellers in the market are showing interest in pushing the price lower. This indicates a potential shift in control from the buyers to the sellers.
Market Expectation
The Bollinger Band indicator is piling in before a potential breakout in the compound market. This indicates a potential increase in volatility and a possible shift in market direction. The momentum indicator in the compound market is already on the rise, suggesting a possible time for a breakout. This indicates a potential increase in buying or selling pressure and a shift in market sentiment. Traders should closely monitor the momentum indicator for any signs of a breakout or a continuation of the current market trend.
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