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The Compound (COMP) daily market chart shows the token experiencing intermittent yet powerful bullish surges. As a result, COMP has secured the second position among top-performing crypto assets, recording a 10.63% price increase. As of the time of writing, price action continues to exhibit strong technical health, suggesting further upward movement may be on the horizon.
COMP Statistics
Current Price: $53.37
Market Capitalization: $477.23M
Circulating Supply: 9.39M
Total Supply: 10M
CoinMarketCap Rank: 127
Key Price Levels
Resistance: $55.00, $60.00, $65.00
Support: $50.00, $45.00, $40.00
Compound Heads Boldly Higher
As noted, the daily COMP market continues to show strong bullish momentum. The most recent bullish move is visible in the ongoing session, with the current price candle pushing above the upper limit of the Bollinger Bands (BB) indicator.
Meanwhile, the Smoothed Rate of Change (SROC) indicator line has reversed from below and is heading toward the equilibrium level, affirming the ongoing bullish trend. The current price candle is nearly wickless, indicating minimal downward pressure and a clear dominance of bullish sentiment.
Bullish Sentiment Dominates the COMP Market
On the 4-hour chart, bullish momentum remains strong in the Compound market. Price action is breaking through the upper band of a widening Bollinger Bands indicator, signaling the potential for an extended rally.
The latest candle is a strong green one, confidently breaking through resistance levels. Similarly, the SROC indicator line is now positioned above the equilibrium level and is pointing steadily upward, further confirming bullish strength. Given this outlook, the market is likely to challenge the $55.00 resistance and possibly advance toward the $60.00 level shortly.
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