COMP/USD Spikes Above $75 Resistance

On Jul 16, 2023

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The Compound price prediction could spike a significant surge if the price breaks above the upper boundary of the channel.

Compound Prediction Statistics Data:

Compound price now – $74.56
Compound market cap – $235.8 million
Compound circulating supply – 7.7 million
Compound total supply – 10 million
Compound Coinmarketcap ranking – #67

COMP/USD Market

Key Levels:

Resistance levels: $95, $100, $105

Support levels: $50, $45, $40

COMPUSD – Daily Chart

COMP/USD is creating a new bullish movement after touching the daily low of $65.13 to breach above $78 as the coin currently trades at $74.68 preparing to cross above the upper boundary of the channel. However, while bears are attempting to bring the price back below the daily high of $75, the bulls may try to collect more on the price dips.

Compound Price Prediction: Compound (COMP) Could Trigger Fresh Rally

Looking at the daily chart, the Compound price can only increase the bullish movement if the $74 level is maintained at all costs. Currently, the technical indicator Relative Strength Index (14) is likely to cross into the overbought region by sending bullish signals into the market which can encourage more buyers to enter the market.

Meanwhile, if the red line of the 9-day moving average crosses below the green line of the 21-day moving average, the Compound (COMP) may slide to the negative side and the market price could hit the support levels at $50, $45, and $40 respectively. Nevertheless, if the technical indicator makes a quick cross above the 70-level, then, there may be another bullish rise which may push the market up to hit the resistance levels of $95, $100, and $105 respectively.

Again Bitcoin, the Compound price is still above the 9-day and 21-day moving averages as the coin prepares for the upward movement. Meanwhile, the technical indicator Relative Strength Index (14) is seen moving around the 70-level. However, for the fact that the market attempts to face the north, the coin is likely to create additional gains if the bulls increase the pressure.

Moreover, the daily chart reveals that the potential resistance level is located at 3100 SAT and above, but any bearish movement may cancel the bullish pattern and this could attract new sellers to come into the market with the next focus on the support level at 1600 SAT and below.

Compound Alternatives

The Compound price is hovering around $74.68 with a bullish cross above the 9-day and 21-day moving averages. Therefore, if the bulls put more pressure, the Compound price may cross above the upper boundary of the channel.

Meanwhile, the team behind Wall Street Memes also knows how to follow through with a successful token launch. The same developers launched the Wall Street Bulls NFT collection in 2021 and sold out the collection in just over 30 minutes. In the ongoing presale, more than $16 million has been raised so far.

Wall Street Memes – Next Big Crypto