Compound is still in a consolidation phase after a strong correction but as soon as its price moves above $40 we consider it strong.
This can turn into a long drawn out correction or a short one but the bigger picture is up.
This is the picture for the next six months... Notice how even if a drop happens the bias is still bullish with higher highs potential...
NYSE:COMP ANALYSIS
NYSE:COMP ’s price is losing 60% from ATH at 87%. Now NYSE:COMP is facing strong horizontal support at $39.6 and NYSE:COMP ’s volume is descending too. I want to see a bullish engulfing to confirm the bullish momentum. #RSI is suited to the neutral regions but #MACD crossover is losing the bearish momentum.
In the current analysis of Compound (COMP), the cryptocurrency has found support at the monthly level around 36. Currently, there's evidence of a bullish divergence on the daily chart. If the ongoing bull run in Bitcoin (BTC) continues, we could anticipate COMP to reach the 54 zone as the first target. Further into the bullish scenario, with continued BTC...
COMP long set up.
Disclaimer: The trading signals provided are for informational purposes only and should not be considered as financial advice. Trading in financial markets involves substantial risk and is not suitable for all investors. Past performance is not indicative of future results. The sender of these signals is not responsible for any losses incurred...
I think the price is going to visit $31s.
Since the market is too shallow, I would like to see a confirmation on LTFs (like 15 minutes) before buying.
If a sharp selloff happens, $28 is another level I'm interested in.
If the price can pass blue line which is the EQ level of major swing low and high level, the price may also visit red box.
Often times in crypto if you can find a fractal or structure repeating it can give you a hint into what is coming next for a different coin showing signs of the same pattern repeating. I dont have an official trade on this one i just think its something i find useful to trade with and thus i am sharing with you what i see
If you look at the comp/usdt pair you can...
Here is My Study On Comp.
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The movement of Compound presents an interesting scenario, as there are indications of a potential bounce and a move towards its resistance area at $46.25. Currently, Comp is being traded at $42.72. If the target increase from its current price is achieved, it could potentially result in a profit of 8.36% for this week. Additionally, Compound is actively expanding...
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Giving off some looks here for an Elliott Wave flat pattern in motion.
Not the most ideal interpretation, tbh, but if certain parameters play out, confidence will...
Hey traders 👋
COMP coin is next on our watchlist. We are looking for coin to show some furthermore weakness on current support zone. We are looking for natural 7% downfall here but from there we see a good potential for a breakdown and a crossover of RSI lines which would lead to more serious fall. Keep your eyes opened!
If you like ideas provided by our team...
Compound followed Bitcoin and the rest of the Crypto-market in the recent panic crash and resumed its correction. This led to a wick low yesterday of 35.
This 35 is equivalent to the March 2023 support and May 2023 low before a stop-loss hunt event. This same level matches the 0.786 Fib. retracement level for the June-July bullish wave.
A 60% drop is a strong...
