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Compound Price Shrinks as Buyers Fight for a Way Out

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Compound Price Shrinks as Buyers Fight for a Way Out

Market Analysis – Compound Price Appears Quiet 

Compound price shrinks as buyers fight for a way out of the current market conditions. This week, the crypto price has been running on low momentum, with a continuous decline in price over the past few weeks. Unlike the beginning of the year, when the bears showed a reasonable flow, the market has been struggling to find a solid pace. 


Resistance Levels: $79.730, $69.240 
Support Levels: $44.290, $34.840

Compound Price Shrinks as Buyers Fight for a Way OutIn December, the compound market experienced a breakout after being compelled inside the Bollinger Band indicator. This indicator indicates low volatility. The buyers found an opportunity and propelled the price to a significant level of $69.240. However, as the new year began, the crypto market took a U-turn and started with a bearish dive. Since then, the compound price has struggled to maintain a solid pace.
Currently, the Bollinger Band indicator remains quiet, signifying the possibility of a breakthrough soon. The buyers are eagerly waiting for a breakthrough that could potentially push the price beyond the $59.860 market level. The Relative Volatility Index (RVI) indicates that the price strength remains in favor of the buyers. However, it further supports the possibility of a breakthrough that could pave the way for a sustained upward run.

Compound Price Shrinks as Buyers Fight for a Way Out

Market Expectation

In the short time frame, accumulation is still present, indicating a potential breakout. Traders should closely watch for a breakthrough using the best forex signals. These signals can provide valuable insights into the market and help traders identify the best spots to target their entry and exit points.

You can purchase Lucky Block here. Buy LBLOCK  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.

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