COMPUSD Shifts from Bullish Major High to Bearish Trend.

Price Analysis: COMPUSD shifts from bullish to bearish, with weakening price strength potentially breaking below $70.60 support.

COMPUSD Key Levels

Demand Levels: $70.60, $5380
Supply Levels: $92.20, $120.00

The bullish momentum that followed was both significant and rapid, propelling the price upward to reach a new major high of $139.00 by December 2024. However, this level signified a critical turning point as it marked the peak of bullish activity. Subsequently, the market formed a failed high pattern, signaling a shift in sentiment as bearish trends began to dominate.

Following the breach of the $92.20 level, bearish momentum encountered a phase of consolidation. During this period, prices ranged between the $92.20 supply zone and the $70.60 demand level. This range-bound movement indicates a battle between sellers attempting to push prices lower and buyers defending the critical $70.60 support zone.

Sellers currently hold the upper hand due to several technical indicators confirming a weakening price structure. The daily Relative Strength Index (RSI) reflects decreasing price strength, underscoring the influence of sellers on the market. Additionally, the daily Moving Average reinforces a bearish outlook, as the price remains below this key indicator, further signalling a downtrend.

Market Expectation

Given the prevailing bearish momentum, a breach below the $70.60 demand level appears increasingly likely. Should this level give way, it could pave the path for an extended bearish trend, with prices potentially reaching lower support levels unless market conditions shift.

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