COMP/USD is currently trading at $173 after an extended downtrend on all timeframes. Compound only started trading two weeks ago. Compound had an explosive start with an initial market capitalization of $590 million and getting up to $910 million. The trading volume has increased tremendously over the past few days from $5 million to $243 million on July 2, however, this hasn’t translated in more gains but rather an extended downtrend. COMP/USD daily chart What looked like a normal pullback after such a significant bull move, it’s now a confirmed downtrend. Bulls obviously don’t have many support levels and they need to climb above the daily 12-EMA at $214. COMP/USD 4-hour chart Here the 12-EMA has acted as a strong resistance level for a few days. Right now, COMP is basically in freefall mode but the RSI is oversold and could indicate that a possible bounce is coming. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next USD/CHF Price Analysis: It has been a bearish week but the bears did not manage to take out the 0.9376 support FX Street 3 years COMP/USD is currently trading at $173 after an extended downtrend on all timeframes. Compound only started trading two weeks ago. Compound had an explosive start with an initial market capitalization of $590 million and getting up to $910 million. The trading volume has increased tremendously over the past few days from $5 million to $243 million on July 2, however, this hasn’t translated in more gains but rather an extended downtrend. COMP/USD daily chart What looked like a normal pullback after such a significant bull move, it’s now a confirmed downtrend. Bulls obviously don’t have many support levels and they… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
