The compound receives a long-term average technical rating of 38 from InvestorsObserverresearch based on historical trading patterns. The proprietary scoring system assesses the price movement of the last few months to a year, analyzes the token’s support and resistance levels, and where it is relative to long-term averages to determine if it is a strong buy and hold investment opportunity. COMP currently holds a long-term technical analysis score above 38% of the cryptos in circulation. This ranking metric is particularly useful for buy-and-hold type investors looking for consistent strong growth when allocating their assets. tokens with a high technical score in the long and short term can help point to assets that have bottomed out, giving investors a chance to “buy the dip”.
The price of the compound is -$51.1600000 (-46.75%) below its 100-day moving average price of $109.430000000, with its price currently sitting at $58.270000000. Moreover, COMP is $4.0700000 (87.22%) above its 52-week low of $54.200000000 while -$470.72000000 (9.13%) is below its highest price. 52-week high of $528.990000000. The current trading price relative to its long-term average along with its 52-week highs and lows, gives COMP a long-term average technical score of 38. Compound’s long-term trading movement suggests that investors are bearish on the token at the moment. The compound currently has a total market cap of $415,374,662.69 to go along with its $787,778,894.35 average daily volume of the currency over the past seven days. COMP’s volume is below its seven-day average over the past 24 hours, with 100,513,294.19 traded over the period. Decentralized Finance subclass of this token: DeFi, or decentralized finance, tokens are tokens created as an alternative to traditional financial institutions. These tokens are designed to alleviate the needs of brokers, exchanges and/or banks by offering traditional financial products or services without the need for central authority through the use of smart contracts.
Compound’s technical analysis over the past year has seen the crypto receive a long-term average technical score of 38, as its price movement at this time has given traders reason to be bearish on the long term token. Click here for the full compound report (COMP).
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