TL; DR Breakdown The bulls dominant the COMP/USD market.Most technical indicators suggest the COMP/USD bull market will not be overturned soon.Most digital assets bleed on the cryptocurrency heat map. Compound price analysis: General price overview Yesterday’s Compound price analysis chart traded in a moderate momentum. Today’s COMP/USD began in a negative trend. However, the trend only lasted for fifteen minutes. The bulls created solid support at the intraday’s low at $463; the support has made the coin trade in a positive momentum. The bull momentum does not seem to be overturned by the few sellers in the market. In most parts of the Daily price analysis chart, the Bollinger bands are comprehensive, implying that the COMP/USD has higher volatility. In addition, the COMP/USD price points towards the upper Bollinger band, signalling an overbought hence the bullish market. On the overall daily chart, we can see that the sellers have tried to reverse the bull trend severally; however, they have not been successful because the bulls have more strength compared to the bears, as indicated by the Balance of Power indicator. COMP/USD price movement in the last 24 hours: Bulls control the COMP market The general view of the COMP/USD market is bullish as the buyers have been in control of the market since early trading hours. At the time of writing, the COMP/USD pair is trading at $499, which is a 6 per cent increment compared to ye...
