- The latest Compound price analysis shows bullish trend.
- COMP/USD price has increased up to $330.04 today.
- Support is strictly adhering to $276.4 level.
The Compound price analysis suggests the bulls are trying to take the charge once again after a long period of constant downfall. The past weeks have been quite damaging for the overall coin value, but today signs of improvement can be detected as green candlesticks are emerging. The price has been lifted up to the $330.04 level during the day, which is a great achievement for the bulls. The hourly chart is also indicating a rise in price which means that the upcoming hours will prove profitable for cryptocurrency.
COMP/USD 1-day price chart: Recent overturn positions bulls above the bearish standing
The price is going up once again as the 1-day Compound price analysis shows signs of bullish recovery. The price levels have been raised up to the $330.04 level, which is an encouraging sign for the buyers. The past few weeks have been detrimental for the COMP/USD market value, but now the price is returning back to its former levels. The moving average (MA) value is also going down towards the price level and is at $329.62.
The volatility has decreased which means that further improvement in the price is to be expected. Furthermore, the upper band of the Bollinger bands Indicator is now touching the $446.74 level whereas the lower band is touching $276.4. The Relative Strength Index (RSI) score has moved up to 42 as well today, though still in the lower half of the neutral zone.
Compound price analysis: Upswing follows steadily taking price closer to its aim
The 4-hours Compound price analysis is showing signs of bullish activity as the price has increased tremendously during the past few hours. The bulls are leading the game once again as the uptrend has been following consistently for the past couple of hours. The price has now mounted to the $329.50 level and is expected to go onto a higher level from here. The moving average is settled at a slightly lower position i.e. at $323.3 in the four hours price chart.
The volatility, on the other hand, has slightly decreased. The upper Bollinger band value has now moved to $341.13, whereas the lower Bollinger band value is now present at $294. The RSI score has increased as well because of the bullish trend as it is now at 54.
The technical indicators chart for COMP/USD is going bearish as the price has hit its lowest point during this month. This is why there are 15 indicators on the selling position with 10 indicators left on the neutral and one the buying positions.
The moving averages indicator is also giving a selling signal because of the constant downfall in price that occurred during the past few months. There are 13 indicators settled on the selling mark, while one indicator each is present on the neutral and buying positions. The Oscillators have nine indicators standing on the neutral position, two indicators on the selling position, and none on the buying position.
Compound price analysis conclusion
The bulls are leading once again as more and more green candlesticks are positioning themselves on the price charts. The price has reached higher levels as well during the day as it is now at $330.40. The price is expected to increase even more as the hourly price chart is dictating bullish price movement. The support present at $276.4 is providing further assistance to the bulls.
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