Crypto Express

07/10 02:05

Will COMP hold the $40 support zone

Will COMP hold the $40 support zone or finally break lower?

At press time, COMP traded at $40.72, hovering near its demand zone after weeks of downward pressure. Despite the bearish environment, the Relative Strength Index (RSI) hovered around 38.60, signaling potential oversold conditions. 

Historically, this zone has triggered relief rallies, but present conditions are different. With strong sell signals from whale activity and rising inflows, bulls lack a convincing catalyst. 

Therefore, a decisive break below this zone could lead to steeper losses. However, any sign of reduced exchange activity or whale withdrawal might provide temporary support.

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