Looking at the chart here COMP is likely to go on a strong uptrend IF it closes the daily candle above $110. MACD and RSI are also providing lots of space to run. I can only see it going upwards from here if it close above $110. SL at 104.
Briefly about the protocol. The Compound Platform is a Defi lending project developed on the Ethereum blockchain. Basically, any cryptocurrency owner can deposit it into a smart contract, where it joins the liquidity pool and starts generating interest. So far, the Compound protocol supports the following altcoins : ETH, DAI, SAI, USDC, USDT, WBTC, ZRX, BAT,...
#Compound retracement is almost over, be ready for uptrend soon! Current Price= 105.43 Buy Entry= 107.19 - 103.59 Take Profit= 116.79 | 127.66 | 135.99 Stop Loss= 93.99 Risk/Reward= 1:1 | 1:1.95 | 1:2.68 Expected Profit= +10.82% | +21.13% | +29.04% Possible Loss= -10.82% Fib. Retracement= 0.382 | 0.618 | 0.786 Margin Leverage= 1x Estimated Gain-time= 360h
TF: 12 Hr Need to see COMP break the trend line. Some bullish divergence can be seen on the MACD, however the RSI disagrees. I don't long positions until they agree if one is diverging. Based on one diverging, there is a possibility that a bullish move may be developing.
#COMPUSDT Buy at: 135 - 136 Amount: 3% from deposit Target: 1) 146 2) 155 3) 165 SL: below 127
Comp has found a support around $127 and has hit that support two times and is now bouncing of. This goes wish a llist of bullish divergences on the 4H Timframe, ending with a missing right shoulder divergence. I expect after this divergence, at least a pull up to the +1 ATR on the 4H TF. Meaning a target of around 145. Entry should be somewhere around...
Good morning Traders This is my primary count for COMP. Seeing this entire corrective move as a larger wave 2 after an explosive W1 from $33 to $373 on Uniswap back in June. Ultimately looking for much higher as the DeFi space grows in a bull market but targeting $305-$311 for now before a final 0.618 retracement to complete a potential running flat to...
COMP is currently testing daily, golden retracement and trendline support which I suspect is going to hold considering the hidden bullish divergence signal on 4H stochrsi which usually signals continuation in a trending market. Declining sell volume on this drop in confluence with major support and hidden bullish div makes me boolish at least for the short...