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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.
Dipayan Mitra is a dedicated Editor and Journalist in the Web3 and cryptocurrency domain with over five years of experience...Dipayan Mitra is a dedicated Editor and Journalist in the Web3 and cryptocurrency domain with over five years of experience in the media industry. A journalism graduate, Dipayan has developed a keen interest in staying up-to-date with the latest developments in the crypto space, allowing him to offer fresh insights and expert analysis on emerging trends. Specializing in technical analysis and market trends, Dipayan is known for his ability to break down complex cryptocurrency topics and deliver them in an accessible and engaging manner. Dipayan’s work has been featured on crypto platforms such as AMBCrypto and CoinGape, where he contributes regularly with high-quality, timely content.
