COMPUSDT
✳️Compound/USDT (27/10) #COMP $COMP #COMPUSDTCOMP is continuously breaking the lowest levels so we should not expect too much on this coin.
Currently, selling pressure has subsided and COMP is looking to rebound with Inverse Head & Shoulders. This pattern will be formed if the COMP fails to break the 92$ bottom and bounce back to break the 108$ zone. The target is the 120$ zone.
The main trend of COMP is currently moving sideways in the 90-120$ zone.
COMP will continue to bottom out if it breaks below 90$
COMP 1D. Next Potential Bottom Range is $72-80.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, REP.
We have seen a strong downtrend since September. However, there was a light at the end of the tunnel! After sellers tested the mark $94. The price exited the falling channel and attempted to break the level $107.5, which would open the way to $123.
However, it could not be done and the light went out at the moment.
In our opinion, the scenario of the COMP price returning to the falling channel is more realistic. Moreover, we think that the token will renew its historical low and stop in the range $72-80.
An alternative scenario is possible only after fixing above $107. If we see such a probability, we will immediately publish an idea about it!
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Compound (COMP) - October 10Hello?
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At this time, the downtrend cannot be seen as overflowing.
You have to wait until you get the same flow as A.
You need to make sure it can move like the B flow shown on the Volume indicator.
I think we can say that we are out of the downtrend by going sideways by rising above 162.08 points on the current chart.
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** Check support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All explanations are for reference only and do not guarantee profit or loss on investment.
Explanation of abbreviations displayed on the chart
R: A point or section of resistance that requires a response to preserve profits
S-L: Stop-Loss point or section
S: A point or segment that can be bought for generating profit as a support point or segment
(Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You must trade from a short-term investment perspective.)
COMP/BTC (4H TF Bear Flag?)💎Technical Analysis Summary💎
BINANCE: COMPBTC
-After breaking the key level of support at 0.0116 sat
-The price keeps falling and now it is also breaking its local support
-This could be a small Bear flag that could fall the price down to 0.0088 sat
-If you are waiting for a trend reversal, it might take more days or even weeks
-But if you are playing on the Bearish side
-This might be a trigger event on your strategy
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Looking for THESE confirmations of a reversal*DISCLAIMER: These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.
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Bullish signals invalidated - expecting more downsideThe current situation:
1. Price action previously formed a double bottom on the 4HR chart, but once it got to the neckline at about 124 USD, it was rejected and apparently does not have the strength to break out. Currently, it looks more like a double top with a measured move of 110 USD from the neckline at about 117 USD.
2. There was bullish divergence on the 4HR chart, but that did not seem to have played out strong enough to get above the double-bottom neckline.
The bullish case: price action retries and breaks the double-bottom neckline towards and goes towards the measured target of about 132 USD
The bearish case: price action breaks below the double-top neckline and goes toward the measured target of 110 USD
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*Let me know in the comment section if you agree or disagree, would love to hear your ideas too.
*These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.
A way out !BINANCE:COMPUSDT
Hello everyone.
As we can see :
- Convergence recently
- Heavy support
- Downward resistance
- Horizontal RSI resistance at 53.5
COMP is trending on last support !
Also this support is very heavy, we expect a pullback and a breakout from resistance also if RSI break 53.5 resistance then we will see a pump till 160$ resistance !
There is a liquidity pool which can hunt some shadows there !
But if COMP failed to pullback and reject from support then there should be a new low for COMP :)
we open our long position at 137$ ( if take hold above resistance )
Attention : this is not a financial advise we just try to help people on their own vision.
HAVE A GOOD DAY
- Helical_Trades
COMP/USD (Retest Key Area of Support?)💎Technical Analysis Summary💎
FTX: COMPUSD
-Compound Token is unable to break the trendline resistance
-It is facing rejection and might retest key level of support at 120s area
-My advice is to wait for the proper upside breakout before planing your entry
-You may look to enter with momentum breakout or wait for a pullback
-The upside potential is up to 180s area of higher
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Compound (COMP) - September 28Hello?
Dear traders, nice to meet you.
"Like" is a huge force for me.
By "following" you can always get new information quickly.
Thank you for always supporting me.
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It remains to be seen if it can rise above the 145.30 point to form a double bottom.
We should also see if we get support at 145.30 and climb, allowing for a cascading climb as shown in the chart.
The important point in our current location is at 162.08.
If you climb above the 162.08 point and get support, I think it is possible that the bottom section has been formed.
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I think it is a period of volatility from September 21st to October 1st.
Therefore, I think careful trading is necessary.
About October 28, when maximum volatility is expected to occur, is about a month left.
The most important thing is to generate revenue, so I think it's time to trade to earn money.
** Check support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All explanations are for reference only and do not guarantee profit or loss on investment.
Explanation of abbreviations displayed on the chart
R: A point or section of resistance that requires a response to preserve profits
S-L: Stop-Loss point or section
S: A point or segment that can be bought for profit generation as a support point or segment
(Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You should trade from a short-term investment perspective.)