COMP - Nice Safe Entry Point at a Good Time. In Depth DeFi - 1
I'm going to go through all the major DeFi Crypto offerings over the next little while. Calling it "In Depth Defi". Instead of "In DepthFi". Still unsure on that one. If you like it, enjoy, and feel free to leave a like. If you dislike it, also leave a like, just aggressively click the button. I'll be able to tell the difference.
COMP is a pretty major DeFi protocol token, that had a recent ATH around $273, before a swift decline back down to the bottom support level.
Recently, Swipe announced they are launching a "LendFi" on their Visa card, which will utilize the Compound protocol.
At the moment, we're sitting right around our historic bottom support, in a downward channel. This is potentially a nice safe position to get some long term gains.
MACD is showing a bullish cross incoming with shrinking bear divergence.
Stoch is strong, not overbought, and heading to a bullish cross.
EMA we're below EMA 50 & 21.
Sell volume steadily decreasing.
BUYING IN?
I think there's lots of room for this to go up. Safest course of action is wait for a breakout but we are at the historic bottom, so chances of it going lower are relatively low.
TP's
Short term:
139.00
Long term:
#1 - 148.00
#2 - 155.00
#3 - 162.00
#4 - 186.00
#5 - 202.00
SL below current bottom. If it breaks the support may be a total collapse.
--
Nobody owes anybody a living, but everybody is entitled to a chance. - Jack Dempsey
--
I'm a guy that you don't know posting his ideas on the internet for the sake of improving as a human being. If you take this as financial advice, that's on you.
If you like my analysis, then leave a like and feel free to follow for more free content. Feedback, criticism and crude humor are welcome :)
COMP is a pretty major DeFi protocol token, that had a recent ATH around $273, before a swift decline back down to the bottom support level.
Recently, Swipe announced they are launching a "LendFi" on their Visa card, which will utilize the Compound protocol.
At the moment, we're sitting right around our historic bottom support, in a downward channel. This is potentially a nice safe position to get some long term gains.
MACD is showing a bullish cross incoming with shrinking bear divergence.
Stoch is strong, not overbought, and heading to a bullish cross.
EMA we're below EMA 50 & 21.
Sell volume steadily decreasing.
BUYING IN?
I think there's lots of room for this to go up. Safest course of action is wait for a breakout but we are at the historic bottom, so chances of it going lower are relatively low.
TP's
Short term:
139.00
Long term:
#1 - 148.00
#2 - 155.00
#3 - 162.00
#4 - 186.00
#5 - 202.00
SL below current bottom. If it breaks the support may be a total collapse.
--
Nobody owes anybody a living, but everybody is entitled to a chance. - Jack Dempsey
--
I'm a guy that you don't know posting his ideas on the internet for the sake of improving as a human being. If you take this as financial advice, that's on you.
If you like my analysis, then leave a like and feel free to follow for more free content. Feedback, criticism and crude humor are welcome :)
Comment:
Looks like this one might be a bailout boys! Stay tuned.
Come hang out with me on telegram, it's free and I won't be too mean too mean to you:
t.me/KadnimCrypto
t.me/KadnimCrypto
