COMPUSD Selling Strength Is Hindered By Its Buying Stance
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COMPUSD Analysis – Selling strength is currently hindered by a buying stance
COMPUSD selling strength is hindered by its buying stance. The buyers have woken up to counter the selling pressure currently ongoing in the crypto market. Although the selling impact is still felt as the market is still in the consolidation stage, the buyers are currently a hindrance to it. Following a buy setup at the compound price of $64.500, the sellers have been making a progressive trade downward. However, the buying strength has been on a war footing, making it harder for sellers to scale through.
COMPUSD Key Zones
Resistance Zones: $64.500 $117.100
Support Zones: $28.900, $43.200
The sellers made their appearance without much hindrance long ago, following a bearish dormancy in the COMPUSD price. The market action made a huge fall from the $173.100 key zone down to $28.900, which was a massive decline in the history of the crypto price. The buyers have now been on edge following a massive price drop, that lasted for quite a while. However, with the buying stance trying to regain its stance from the $28.900 key zone, the price fell into a consolidation stage. The crypto price activity is still recovering its strength between the key levels of $64.500 and $43.200, which is the key zone.
The buying traders are looking for a way to continue their trend against the bearish fallout, but they are stuck in consolidation. The Stochastic Oscillator shows buyers’ established moment as the price signal just left the oversold section on the daily chart. However, the Parabolic SAR (Stop and Reverse) indicator still shows that sellers want to push the price down to continue ranging the market.
Market Expectations
The 4-hour chart shows buyers in a fuming rage. They are currently pushing up price liquidity against selling orders in the market. Buyers are likely to pick up price strength, which could even break through the $64.500 key zone.
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