Compound Coin Cryptocurrency Forecast
Compound Coin cryptocurrency upgraded from Sell Candidate to Hold/Accumulate after Saturday trading session.
(Updated on May 04, 2024)
The Compound Coin cryptocurrency price gained 2.94% on the last trading day (Saturday, 4th May 2024), rising from $56.79 to $58.46. During the last trading day the cryptocurrency fluctuated 7.08% from a day low at $57.90 to a day high of $62.00. The price has risen in 6 of the last 10 days and is up by 2.02% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 30 million more shares were traded than the day before. In total, 33 million shares were bought and sold for approximately $1.91 billion.
The cryptocurrency lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $51.69 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -8.25% during the next 3 months and, with a 90% probability hold a price between $47.43 and $80.58 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
COMPUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 12.32%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Compound Coin cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $62.21. On a fall, the cryptocurrency will find some support from the short-term average at $55.69. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Compound Coin cryptocurrency
Compound Coin finds support from accumulated volume at $57.04 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $4.10 between high and low, or 7.08%. For the last week, the cryptocurrency has had daily average volatility of 8.91%.
Our recommended stop-loss: $56.10 (-4.04%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (COMPUSD) For The Upcoming Trading Day Of Sunday 5th
For the upcoming trading day on Sunday, 5th we expect Compound Coin to open at $59.45, and during the day (based on 14 day Average True Range), to move between $53.53 and $63.39, which gives a possible trading interval of +/-$4.93 (+/-8.43%) up or down from last closing price. If Compound Coin takes out the full calculated possible swing range there will be an estimated 16.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $57.04 (2.43%) than the resistance at $65.95 (12.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Compound Coin cryptocurrency A Buy?
Compound Coin holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.965 Hold/Accumulate Upgraded
Predicted Opening Price for Compound Coin of Sunday, May 5, 2024
| Fair opening price May 5, 2024 | Current price |
|---|---|
| $59.45 ( 1.70%) | $58.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for COMPUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 63.55 | 8.71 % | |
| R2 | 61.99 | 6.03 % | ||
| R1 | 61.02 | 4.38 % | ||
| Current price: | 58.46 | |||
| Support | S1 | 57.89 | -0.98 % | |
| S2 | 56.92 | -2.64 % | ||
| S3 | 55.35 | -5.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 68.56 | 17.28 % | |
| R2 | 67.61 | 15.65 % | ||
| R1 | 65.95 | 12.81 % | ||
| Current price | 58.46 | |||
| Support | S1 | 57.04 | -2.43% | |
| S2 | 53.49 | -8.50% | ||
| S3 | 52.72 | -9.82% |
FAQ
Click here for our free guide on how to buy Compound Coin Cryptocurrency.
