COMPUSDT.1DThis chart shows the daily price movements of COMP/USDT (Compound paired with US Dollar Tether) over several months into early 2025. Here's my technical analysis:
Trend Analysis
The price of COMP has been in a broad downtrend as indicated by the descending trendline, R1, which highlights the resistance levels. Since reaching a high in March, the price has consistently made lower highs and lower lows—a classic bearish trend.
Support and Resistance Levels
R1: The descending red line, currently around the $60 mark, has been a significant barrier. The price has tested this line multiple times without a successful breach, affirming its role as a key resistance level.
S1 ($41.48): This horizontal line acts as the immediate support where the price has found some stability in recent trading days. If this level holds, it might provide a base for COMP to potentially rally or at least stabilize.
S2 ($34.10) and S3 ($33.84): These are lower support levels that could come into play if S1 is breached. Given the proximity of S2 and S3, this area could be seen as a strong demand zone where significant buying might emerge.
Current Market Position
The price is currently trading around $48.99, just above S1. This suggests some immediate support, but given the downtrend, there's potential risk of further declines if S1 doesn't hold.
Trading Strategy
Considering the market's bearish bias, my approach would be cautious. If holding COMP, I would look for any sign of strength above S1 and potentially consider reducing exposure on any rally towards R1. If the price breaks below S1, I would watch for reactions at S2 and S3 for potential buying opportunities, as these levels might offer substantial support.
Conclusion
In conclusion, COMP exhibits bearish momentum with immediate support at S1. The strategy should be defensive, focusing on risk management. Any positions taken around support levels should have tight stop losses to guard against a breakdown below these points. As always, it's essential to adapt quickly to new information and market conditions that could affect this outlook.
Companalysis
COMPUSDT.1DBased on the market data for the COMP/USDT pair, the current price of COMP is $67.16. The Relative Strength Index (RSI) for 4 hours, 1 day, and 7 days are 61.90, 73.37, and 66.25 respectively. These RSI values indicate that the coin is neither overbought nor oversold.
The Moving Average Convergence Divergence (MACD) for 4 hours, 1 day, and 7 days are 2.49, 2.84, and 3.07 respectively. The positive MACD values suggest that the market is bullish.
The Bollinger Bands (BB) for 4 hours, 1 day, and 7 days are all at 73.82. This indicates that the market volatility is relatively stable.
The support levels for 4 hours, 1 day, and 7 days are $63.76, $58.51, and $52.80 respectively. The resistance levels for the same periods are $76.40, $76.45, and $92.0 respectively.
In conclusion, the COMP/USDT pair is currently in a bullish trend. The market is neither overbought nor oversold, and the volatility is stable. The positive MACD values also suggest that the bullish trend is likely to continue. However, it's important to keep an eye on the support and resistance levels. If the price breaks the resistance levels, it could continue to rise. However, if the price falls below the support levels, it could indicate a trend reversal. As always, while technical analysis can provide some insight, it's also important to consider other factors such as market news and sentiment when making trading decisions.
COMP UPDATE (4H)This analysis is an update of the analysis that you can see at the bottom of this page, in the related analysis section
We are in the supply range of the previous analysis, but the structure is now more clear.
The comp is completing the e wave of a larger degree diametric. It is expected that the specified targets on the chart will rise
COMP UPDATE (4H TF)It seems that from where I entered "Start" we are inside an ABC, which is a diametric B wave and it is over. And now we are in wave C.
If the price reaches the supply range, we will look for sell/short positions in this range
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
Compound Token (COMP) Analysis 08/03/2021we had our previous Publications TP Achieved
currently we can see a Bullish Hidden Divergence of price with MACD, which is the sign of trend continuation,
using Fibonacci Projection for the Target Specifications.
1TP is the parallels leg of Fibonacci projection and easy to achieve by nest impulse wave after the current retracement.
if 2TP triggered with the first rally then we may have a price correction and our 3 TP is confirmed.
Short-Term buy limits ready for COMPUSDI've been following the price for a while now and I think we might have a good chance for this pair to starting to rise again. Volume is steadily growing and the overall structure is giving a really nice bullish image worth considering and taking advantage of. Let's see how this develops.
COMPUSD acheive the target Hi, I shared my analysis on the compound(COMPUSD) you can see how it achieved the target I marked, now the COMPUSDT is on resistance watch out for
Enjoy the profits
I suggested long from 405-407 and it is at 511 as you can see yourself volume support. Enjoy the dinner with some amount and remember me as well if you took a trade
Like and comment
check all my previous predictions and comment below what you think about that to motivate me
COMP-6h. Will there be consolidation before test $190?Yesterday's sharp drop in the COMP market showed that continued growth without consolidation is unlikely. In fact, in an hour the sellers lowered the price by 7%.
The COMP price stopped before the critical range of $133-140 . Near the $133 mark is a global trend line , which buyers have been holding since the beginning of November. Its breakdown will lead to a sharp drop in prices to $100 . Given the positive dynamics of the cryptocurrency market, the probability of this scenario is low.
However, it is better to temporarily get rid of the token if the price is fixed below $130.
Our main scenario is to continue growing to $190 . However, this requires complete depletion of sellers at local lows.
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COMP/USDT BINANCE4H hollow candlesticks.
price has broken the yellow downtrend line (ascending triangle),
so we maybe see a pump up to 33%.
horizontal lines shows support and resistance levels.
$172.89 USD (11.71%)
0.01891926 BTC (11.53%)
0.74192254 ETH (11.78%)
Market Cap: $270,669,143,366
24h Vol: $52,007,495,948
BTC Dominance: 62.3%
Good Luck