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COMPOUND Price Analysis: 200 DMA Was Crossed Long Back

COMP token
  • The 24 hours trading volume of the token is 292,183,253 and the gain by 55.68% was seen. The live price of COMPOUND is $415.30
  • The token has shown the pattern of bullish engulfing since yesterday’s morning..
  • The RSI oscillator for COMP shows the BUY action.

The COMP has been running well above its 200 days moving average but below its 50 days moving average. The chart above shows the movement of the token with respect to SMA-20, SMA-50 and SMA-200. SMA-20, the token,token has touched the 200 DMA earlier in July (2 July) and has been running above it since then. SMA-50 was achievable at times and the timeframe of 29 June to 10 July the token has reached its maximum of its last 2 months and marked the high of 529.700. The trendline marked in the chart shows the movement of SMA-20 below SMA-50 and thus the bears win can be seen by the falling returns gradually.

An RSI oscillator is also present in the chart which shows the proper time to buy or sell the token. RSI for the last 5 hours shows the value of 51.326 and marks the neutral action. MA-5, MA-10 and MA-20 show the buy action. However, the COMP at present is all set to buy. Which is expected to show a hike in price in the coming time.

The bull/bear power has the value of 11.7120 and shows the buy action as well. The high/low marks the buy action with the value of 2.3473.

SMA-20 when fell below SMA-50


The token fell below SMA-50 and then the returns were -12.42% on 24 June and now when the token has fallen below SMA-50 the returns hit the level of -15.13%. 

The COMP-BTC pair is trailing at the level of 0.01261 and the gain of 9.61% was seen whereas the COMP-ETH pair is trailing at the level of 0.2082 and the gain by 7.29% was seen in the last 24 hours. The token has shown the percentage gain of 12.94% since yesterday’s open.

The volume/market cap of the token is 0.1312 and its market dominance is 0.17%.

Conclusion: The days range for the coin is 359.58-428.88 and presently is at 411.52 The token is expected to show a rise in the coming time and if you wish to purchase this token then long it as SMA-20 is below SMA-50 but above 200 and so in short term trading we could expect a hike in returns. If you have already purchased the token then sell it if you have attained decent returns. The bears win is continuing and the trend is downwards.

Technical Instruments:

Pivot: 414.24

R-1: 423.98

R-2: 430.00

S-1: 404.50

S-2: 398.48

(Note- The unit is USD)