COMP looks ready for a huge leg to the upside all timeframes are very bullish, on the daily we can see a clear break above the resistance of a nice cup and handle pattern, 840 should now act as a very strong support.
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COMP volume has diminished in the last few days leading those who bought at $450 support band to take large profits. I expect a test of support at $675. Invalidation of bulls at $675 could push the price down to $500. Otherwise support could gather at $675 for the eventual push to $1000.
Overall price outlook looks good for COMP because Ethereum has surged in...
I would assume a nice back test to 685-690 to confirm as new support then another launch. Let’s see what happens. Target of this move is 840 so we will see if it hits that before pulling back to retest 740 instead or how it’ll olay out
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(COMPUSD 1W chart)
We need to see if we can get support and climb in the 642.666756-679.671780 section.
If it falls, you need to...
If you look at previous price action/ RSI and compare it with current price action/ rsi there seems to be a pattern.
Previous price action which pushed to new ATH stayed within the RSI trend lines creating a pendant. Once RSI neared the end of the pendant it broke out to new ATH.
Current RSI is forming the same pendant and nearing the end of the pendant. ...
COMP price traded at $556 with a gain of 8.74% in the last 24-hour and 5.43% down in the weekly time frame. Furthermore, COMP price plunged from the resistance of $640. In contrast, the market capitalization stands at $2.78 billion. Technically, investors can perceive a positive crossover in the EMA, and the price is above the 55-EMA. RSI index showcases a...