COMP USDT 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-USDT. Compound is a decentralized finance (DeFi) platform that enables users to lend and borrow a variety of assets, including cryptocurrencies, stablecoins, and other digital assets. The platform utilizes a novel liquidity pool model that allows for efficient and secure lending and borrowing, with the goal of providing a more accessible and inclusive financial system. With Compound, users can earn interest on their digital assets by lending them to others, or they can borrow assets at competitive rates to meet their financial needs.

Compound Price Overview:

As of May 17, 2024, Compound is trading at approximately 56.08 USDT. Let’s dive into the detailed price action for COMP-USDT:

Explore potential downturns for Compound (COMPUSDT) at 56.08 USDT, supported by cautionary indicators and weakened fundamentals, as revealed in technical analysis.

Metric Value
Open (O) 55.29
High (H) 56.75
Low (L) 54.6
Close (C) 56.08
Volume (C) 46,253.91
  • Open (O): The opening price for today’s trading session was approximately 55.29 USDT.
  • High (H): Compound reached a daily high of around 56.75 USDT.
  • Low (L): The daily low for COMP-USDT was approximately 54.6 USDT.
  • Close (C): At the time of analysis, Compound is trading near its daily close of 56.08 USDT.
Metric Value
1D Change (%) 1.45%
3D Change (%) 6.98%
7D Change (%) 3.30%
30D Change (%) 8.01%
90D Change (%) -3.87%
YTD Change (%) -2.28%

Over the past three days, COMPUSDT has risen by approximately 6.98%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 3.30%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with COMPUSDT maintaining an upward trend of approximately 8.01%, despite intermittent fluctuations. Examining the last 90 days, COMPUSDT has witnessed substantial decrease of approximately -3.87%, reflecting strong long-term confidence. Year-to-date, COMPUSDT has steadily decreased by around -2.28%, 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-USDT 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 0.53356.
  • Momentum score is 0.00394.

COMP USDT Technical Analysis

Compound Trading Volume:

The trading volume for Compound (COMP) over the past 24 hours has been insignificant, with approximately 46,253.91 USDT 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-USDT is currently in the neutral zone, around 45.88565. This suggests that Compound is in range-bound territory.

Analysis from TradingView:

Our Key Takeaways:

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

Explore potential downturns for Compound (COMPUSDT) at 56.08 USDT, supported by cautionary indicators and weakened fundamentals, as revealed in technical analysis.

Discover even more by checking out our comprehensive analysis on COMP BTC Compound Technical Analysis — a perfect 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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