The price of COMP remains above the daily 50 EMA as it approaches $80.
\nPrice remains bullish, holding above key support areas
\nCOMP price ranges in an asymmetric triangle with high buy orders.<\/p>\n
The Compound (COMP) token price has recently been volatile as price ranges in an asymmetric triangle prepare for a breakout to a region of $80 against tether (USDT). Despite the fact that the crypto market is in a state of flux, the Compound (COMP) price has shown tremendous strength as it attempts to break out of its trading range. (Data from Binance)<\/p>\n
Compound (COMP) Price Analysis On The Weekly Chart\u00a0<\/p>\n
Despite a drop in price from $850 to $30, a drop of more than 70% from its all-time high. COMP\u2019s price showed great strength as it rallied from its weekly low of $30 to a high of $60 before failing to break above that region to higher heights.<\/p>\n
The price of COMP has remained in a range as it is unable to break above a weekly resistance of $66 in order to trend higher to a region of $80.<\/p>\n
To have a better chance of trading higher, the COMP price must break and close above $66. The price of COMP has formed an uptrend line that is acting as support; flipping this area of resistance into support will signal a more relief bounce for the price of COMP.<\/p>\n
If the price of COMP fails to break through this key resistance region, we may see the price of COMP range within this channel or retest the $40 and lower support and demand zone for more buy orders.<\/p>\n
Weekly resistance for the price of COMP \u2013 $66<\/p>\n
Weekly support for the price of COMP \u2013 $40.<\/p>\n
Price Analysis Of COMP On The Daily (1D) Chart The daily timeframe for COMP prices is still strong, with prices ranging in an asymmetric triangle<\/a> with high volume. Despite being rejected from a high of $65, the price has remained in a range forming an asymmetric triangle, with volume increasing in anticipation of a major breakout.<\/p>\n On the daily timeframe, the price of COMP is currently trading at $61, above the 50 Exponential Moving Average (EMA), which acts as a support for the price of COMP, and below the 200 EMA, which acts as resistance for the price of COMP. The price of $54 corresponds to the 50 EMA support, while the price at $80-$86 corresponds to the resistance.<\/p>\n The price of COMP needs to break above this resistance to rally high.<\/p>\n The Relative Strength Index (RSI) for COMP is above 60 on the daily chart, indicating more buy order volume.\u00a0<\/p>\n Daily resistance for the COMP price \u2013 $66.<\/p>\n Daily support for the COMP price \u2013 $54-$45.<\/p>\n Featured Image From zipmex, Charts From Tradingview\u00a0<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n The price of COMP remains above the daily 50 EMA as it approaches $80. The Compound (COMP) token price has recently been volatile as price ranges in an asymmetric triangle prepare for a breakout to a region of $80 against tether (USDT). Despite the fact that the crypto market is in a state of flux, the Compound (COMP) price has shown tremendous strength as it attempts to break out of its trading range. (Data from Binance)<\/p>\n Compound (COMP) Price Analysis On The Weekly Chart\u00a0<\/p>\n Despite a drop in price from $850 to $30, a drop of more than 70% from its all-time high. COMP\u2019s price showed great strength as it rallied from its weekly low of $30 to a high of $60 before failing to break above that region to higher heights.<\/p>\n The price of COMP has remained in a range as it is unable to break above a weekly resistance of $66 in order to trend higher to a region of $80.<\/p>\n To have a better chance of trading higher, the COMP price must break and close above $66. The price of COMP has formed an uptrend line that is acting as support; flipping this area of resistance into support will signal a more relief bounce for the price of COMP.<\/p>\n If the price of COMP fails to break through this key resistance region, we may see the price of COMP range within this channel or retest the $40 and lower support and demand zone for more buy orders.<\/p>\n Weekly resistance for the price of COMP \u2013 $66<\/p>\n Weekly support for the price of COMP \u2013 $40.<\/p>\n Price Analysis Of COMP On The Daily (1D) Chart
\nDaily COMP Price Chart | Source: COMPUSDT On Tradingview.com<\/a><\/p>\n
\nPrice remains bullish, holding above key support areas
\nCOMP price ranges in an asymmetric triangle with high buy orders.<\/p>\n
\nDaily COMP Price Chart | Source: COMPUSDT On Tradingview.com<\/a><\/p>\n