COMP BTC Compound Technical Analysis

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By Frans van Elst

Compound logo In this Compound technical analysis, we will examine the current price action, trading volume, key levels and indicators for COMP-BTC. Compound is a decentralized finance (DeFi) platform that enables users to lend and borrow a variety of assets, including cryptocurrencies and stablecoins. The platform utilizes a novel liquidity pool model that allows for automated market making and provides a more efficient and secure way for users to access financial services. With Compound, users can earn interest on their digital assets while also benefiting from the security and transparency of the Ethereum blockchain.

Compound Price Overview:

As of May 20, 2024, Compound is trading at approximately 0.00082 BTC. Let’s dive into the detailed price action for COMP-BTC:

Clearly see potential bearish trend for Compound (COMPBTC) at 8.23e-04 BTC through detailed technical analysis, highlighting weakened support and cautionary indicators.

Metric Value
Open (O) 0.00083
High (H) 0.00084
Low (L) 0.00082
Close (C) 0.00082
Volume (C) 491.33
  • Open (O): The opening price for today’s trading session was approximately 0.00083 BTC.
  • High (H): Compound reached a daily high of around 0.00084 BTC.
  • Low (L): The daily low for COMP-BTC was approximately 0.00082 BTC.
  • Close (C): At the time of analysis, Compound is trading near its daily close of 0.00082 BTC.
Metric Value
1D Change (%) -0.84%
3D Change (%) -2.60%
7D Change (%) -5.07%
30D Change (%) -9.56%
90D Change (%) -27.93%
YTD Change (%) -39.44%

Over the past three days, COMPBTC has decreased by approximately -2.60%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -5.07%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with COMPBTC maintaining a downward trend of approximately -9.56%, despite intermittent fluctuations. Examining the last 90 days, COMPBTC has witnessed substantial drop of approximately -27.93%, reflecting strong long-term confidence. Year-to-date, COMPBTC has steadily depreciated by around -39.44%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.

Compound Live Chart:

You can access a live price chart for COMP-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.

Price Volatility and Momentum:

  • Volatility score is 0.4071.
  • Momentum score is -0.0605.

COMP BTC Technical Analysis

Compound Trading Volume:

The trading volume for Compound (COMP) over the past 24 hours has been insignificant, with approximately 491.33 BTC traded against COMP. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.

Moving Averages:

  • 50-day Simple Moving Average (SMA): COMP is currently trading below the 50-day SMA, indicating short-term bearish momentum.
  • 200-day Simple Moving Average (SMA): Compound is also trading below the 200-day SMA, indicating a negative long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for COMP-BTC is currently in the low zone, around 37.57178. This suggests that Compound is in bearish territory.

Analysis from TradingView:

Our Key Takeaways:

Compound (COMP-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.

Clearly see potential bearish trend for Compound (COMPBTC) at 8.23e-04 BTC through detailed technical analysis, highlighting weakened support and cautionary indicators.

Take the next step in your exploration by delving into our detailed insights on COMP USDT Compound Technical Analysis; it’s a natural follow-up if you enjoyed this post.

Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.

Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.

Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.

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