Compound Does it Again: Heads Down for the 3rd Straight Day

The Hourly View for Compound

  • At the time of this writing, COMP’s price is down $-8.49 (-2.53%) from the hour prior.
  • It’s been a feast for bears operating on an hourly timeframe, as Compound has now gone down 4 of the past 5 hours.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
  • The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Compound’s hourly price chart is shown below.

COMP

The Daily View for Compound

  • At the time of this writing, COMP’s price is down $-10.52 (-3.13%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as Compound has now gone down 4 of the past 5 days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
  • Divergence between COMP’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in COMP’s price.

Below is a daily price chart of Compound.

COMP

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