Compound (COMP) Continues to Trade Near a Three-Month Low

Price action in the Compound market had previously surged through the $35.80 price mark, thereafter attaining a multi-month high near the $80.00 mark. Some traders have utilized this price increase to take some profits from this market. Nevertheless, this token has been able to sustain above the previously broken resistance at $35.80.

COMP Statistics:
Compound Value Now: $39.63
COMP Market Cap: 313.22 Million
Compound Circulating Supply: 10,000,000 COMP
COMP Total Supply: 10,000,000 COMP
Compound CoinMarketCap Ranking: 92

Major Price Levels:
Top: $39.63, $40.50, and $41.50
Base: $39.00, $38.00, and $37.00

Compound Trades Atop the $39.17 Price Mark

Trading activities in the Compound market have remained above the support formed by the middle band of the Bollinger Bands indicator. The ongoing session seems to portray that buyers may be gaining more buying confidence and are therefore re-entering the market.

However, the Moving Average Convergence Divergence indicator bars are still pale green in appearance above the equilibrium level, while the indicator lines continue to rise slightly upwards towards the equilibrium level. Consequently, more confirmations are needed to make informed trading decisions in this market.

COMP May Still Be on Course Towards the $40.00 Price Mark

Price action in the COMPUSDT market largely maintains that the ongoing upside correction may still be on. The upside price correction has been challenged by the appearance of a tiny-bodied red price candle near the middle limit of the Bollinger Bands. Nevertheless, the indicator bars on the negative axis of the MACD indicator continue to reduce in length while appearing pale red.

Also, the indicator lines seem to be approaching an upside crossover near the equilibrium level. Consequently, this token still has a good shot at additional price increases towards the $41.00 mark.

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