Compound Price Prediction for Today May 14 – COMP Technical Analysis

adminMay 15, 2024

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The composite price prediction is heading towards the upper boundary of the channel with the price reaching a daily high of $56.74.

Complex predictive statistical data:

Current composite price – $54.7
Composite market capitalization – $435.2 million
Combined circulating supply – 8.1 million
Composite Total Supply – 10 Million
Compound Coin Market Cap Ranking – 142nd

COMP/USD market

Main level:

Resistance levels: $75, $80, $85

Support levels: $40, $35, $30

Compound Price Prediction for Today May 14 – COMP Technical Analysis — COMPUSD – daily chart

COMP/USD is likely to break above its 9-day and 21-day moving averages and reach a daily high of $56.74. As of this writing, Compound is trading at $54.77, up more than 1.74% since the start of the European session. However, with the recent recovery, the coin is likely to move near the top of the channel.

Composite Price Prediction: Will COMP Cross Above $60?

Currently, the composite price is forming a bullish movement as bulls are pushing the price to reach the moving average. However, if the bulls begin an upward trend, COMP/USD is likely to break above the upper boundary of the channel, which could reach resistance levels of $75, $80, and $85. This means that if bears re-enter the market due to strong selling pressure, the price may be pulled towards the lower border of the channel.

However, if the compound slips and heads south, a downtrend could push the price towards the $40, $35 and $30 support levels. On the other hand, the 9-day moving average may need to cross the 21-day moving average to indicate a possible bullish move within the channel.

COMP/BTC moves in the same direction

Compared to Bitcoin, the composite price continues to move sideways, but the current market movement could follow an upward trend if buyers push the price above the 9- and 21-day moving averages, reaching the channel upper limit.

Moreover, if the 9-day moving average continues to hover over the 21-day moving average and heads north, the market price could resume an upward trend that could reach resistance levels above 1200 SAT. Meanwhile, a bearish move towards the lower boundary of the channel could push the price down to the support level below 600 SAT.

From his perspective, @o_erycc shared his analysis of $COMP with his followers on X (formerly Twitter), indicating that a collapse had occurred.

$COMP – Disassembly completed!!
expect a dump #Cryptocurrency #COMP #Cryptocurrency pic.twitter.com/ITG4mafIfo
— ERYX (@o_erycc) May 12, 2024

composite alternative

The composite price on the daily chart indicates a potential bullish move. However, the 9-day moving average has not yet exceeded the 21-day moving average. This suggests that momentum is waning, especially as it falls below the intraday high of $56.74, suggesting that the trend is nearing a conclusion. Meanwhile, the Dogeverse token has entered its final phase, giving investors the opportunity to secure the token at its current pre-sale price before its exchange debut. Having raised over $15 million in pre-sale funding, the token is set to officially launch soon.

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