Coins
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Compound
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2022-09-12

Compound market outlook from September 6 - September 12 :the price surges by 18%.

The analysis of last week’s price action shows that the Compound market is in the phase since the price has been moving upward. The volatility of COMP has been low throughout the reviewed period in correspondence with the price action. Last week’s market conditions reflected on the market capitalization of the asset, which was rising. The price action of the crypto coin from last week stemmed from the increasing trading volume.

The price action of Compound is in a stalemate due to low volatility during the observed period. The data derived from our credible sources shows that the average volatility of COMP didn't exceed 1.68%, which is indicative of weak price action. 5.91% was the maximum volatility that the coin managed to showcase on September 10. The weakest volatility level of 1.68% on the asset's market was registered on September 11. Since the crypto coin is displaying low levels of volatility, the price action is likely to remain feeble.

The were dictating the terms on the Compound market on September 6 - the trading session opened at $47.69. The price of COMP took a 4% down downswing at the open of the weekly trading period. September 7 saw the coin going another 2% since the open, supported by the corresponding trading volume. During the next trading day, the rate of change in the price of Compound stood at 3% having reached the low at $47.24 and the high at $49.83 as the advantage remained on the side of buyers. The COMP market was up as the price shifted by 5% on September 9, against the backdrop of the sufficient trading volume. The price range of Compound on September 10 formed between $51.75 and $53.28, whereas the daily price extremities were $51.75 and $53.99. The activity on the crypto coin's market on September 11 resulted in the asset being traded between $53.22, the open of the day, and $56.43, the close of the day; at some point, the price spiked to the daily high at $57 and briefly dropped to the daily low at $53.22. Most trading activity on September 12 occurred in the space between $56.3 and $54.3; during this time span, the immediate selling pressure forced the coin to drop to the 24H low at $53.7, though the bulls had also staged the rally to the 24H high at $56.3. The asset posted the weekly low at $44.2, while the top of the weekly trading session was registered at $57. The difference between the lowest and the highest price points for the week was 18%, as the price moved in the $8.39 wide corridor.

The past 7 days were marked by a change in average daily trading volume from $22 582 732 on September 6 to $40 487 784 on September 12. We can draw the comparison with the period of 7 days that preceded the reviewed one when COMP ’s trading volume varied from $19 005 798 to $125 893 147. We can draw a parallel between the change in trading volume in the previous 7 days, which constituted 48%, and the 18% price shift.

The total market capitalization of Compound during the past 7-day oscillated between $334 303 257, the starting point that was established on September 6, and $381 607 122 on September 12, the end date of the reviewed period. The rate of percentage change for the last week for COMP was 14%. While the market capitalization of the coin was altered by 14%, its price has made a 18% change. In the preceding week, August 30 - September 5, the market capitalization of Compound got a 3% adjustment ($341 491 355 to $332 538 426) in comparison to a 14% change last week; this allows getting a deeper insight into the market structure.

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Article date: September 12 | September 6 - 12

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