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COMP looks like intraday volatility above $55. TAMA’s FOMO

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Our composite price forecast shows that COMP will move upwards as we expect a close above the $2000 price mark.

Compound (COMP) Statistics:

  • Current combined price – $56.55
  • Combined market cap – $408.9 million
  • Combined circulation supply – 7.2 million
  • Combined total supply – 10 million
  • Composite Coin Market Capitalization Ranking – #81

COMP/USD Market

Main levels:

Resistance Levels: $70, $75, $80

Support Levels: $45, $40, $35

COMPUSD – Daily chart

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COMP/USD is seen trading at $56.55 after hitting an intraday high at $61.30 during today’s European session. Looking at the daily chart, Compound (COMP) is following in Bitcoin’s (BTC) footsteps, but this time with a limited profit margin. COMP/USD is trading above the 9- and 21-day moving averages after opening today’s trading at $54.60.

COMP price increases, may buy and hold TAMA

After hitting a monthly high of $62 earlier this month, it turned down and is now trading at the $56.55 level. Meanwhile, the composite price may move towards the upper end of the channel and touch the nearest resistance at $65.

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However, compound prices are likely to perform well, with prices hitting resistance levels of $70, $75, and $80, respectively. On the other hand, if the technical indicators do decide to make a sharp turn south, a cross below the lower bound of the channel is possible and a bearish drop could push the market down to the $45, $40, $35 support levels. However, the Relative Strength Index (14) crosses over the 60 level.

Against Bitcoin, the red line of the 9-day moving average remains above the green line of the 21-day moving average, so the market price is likely to focus on the upside in the channel. COMP/BTC is currently trading at 3053 SAT and the next key resistance could be above 3500 SAT.

COMPBTC – daily chart

On the downside, potential bearish moves below the 9- and 21-day moving averages are possible. Once this is done, support levels below 2500 SAT are likely to come. On the other hand, the market may continue its bullish day as the Relative Strength Index (14) indicator remains above the 60 level, suggesting more bullish signals.

Tamadoge, an ERC-20 token, will also offer its first DEX offering (IDO) on Uniswap. TAMA will be listed at $0.03. The team is reportedly moving forward with all his TAMA crypto exchange listings over the next few days, as Madhog’s pre-sale sold out earlier than expected.

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COMP looks like intraday volatility above $55. TAMA’s FOMO

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