Compound Reflects Bearish Hold, May Fall to Support at $159

Compound (COMP) News

Compound has been through a hefty volatile price movement over the last week. The currency was trading around $176 at the starting of the week. From there, it started falling gradually. Over the next four days, the COMP price touched the lowest point of the week at $152.87. However, after hitting $152, Compound regained upside momentum and registered a steep hike. On July 17, the coin was at the highest point of the week at $178.90.

At this high, the COMP token couldn’t manage & lost the momentum, and the price fell steeply. However, the Compound token managed to trade above $160 price mark, but yesterday, it was tapered off till $159.59. Despite the strong bearish hold, the token managed to regain momentum and crossed the $160 price mark. At the press time, it was trading at $162.

The MACD hints at the upcoming struggle for Compound. On the downside, it may retest a support at $159. However, with everything in the right place, it may experience a bit of improvement as well. Investors may target $165 for the week.