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COMPBULLUSD trade ideas

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 `````````````````````````````````````````````` Trading Involves High Risk Not Financial Advice Please Exercise Risk Management `````````````````````````````````````````````` If You Like My Daily Published Ideas A little Help By Supporting My Channel Through Leaving A Thumbs Up, Comment & Follow Happy Trading! --> Thank You! :) ``````````````````````````````````````````````
FTX:COMPUSD
by PolarHusk
10
Comp vs USD on Golden ratio*disclaimer* I don’t keep a position in this project so please do your own research. If you’d like updates on this TA, just leave a message below! Following a healthy market correction of almost 50% price action finds support on the golden ratio (0.786). Facts of the 1-day chart: 1) Stochastic RSI is oversold and indicating an increase in momentum. Bullish divergence is now visible on the 8hr chart (below), which complements the daily chart very nicely. 2) MFI resistance is broken just as before following an oversold period = bullish 3) The 1-day Bitcoin chart (bottom)is also showing healthy retracement with support on the golden ratio. 4) It is interesting with point (3) that price action now finds support on previous price action resistance (Orange line). Good luck! 8hr USD chart 1-day Bitcoin chart
BINANCE:COMPUSDLong
by without_worries
2
Bullish signs but will the market keep plunging COMP?There are double bottoms on all major time frames except the monthly and this is a bullish reversal pattern. The neckline is at about 145 USD and the measured target is at about 170 USD. There is also bullish divergence on these major timeframes so if it plays out, it can be a catalyst for a reversal. But with the market conditions right now, it may or may not play out. *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.
COINBASE:COMPUSD
by CryptoRush_
1
Short Term Bearish On COMPUSD - PULLBACK PREDICTIONSCOMPUSD has been on a tear these 2 days and looks too overextended on the 12HRs and under hourly timeframes The bearish case: 1. Market structure: price action got rejected at the 78.6% Fib level, which is at about 270 USD. 2. Volume: the rejection at 270 was with decent sell volume , which is at about the same volume with the previous 2 green candles. 3. RSI: in overbought territory on all major time frames up to the daily, bearish divergence is apparent on the 6 and 12HR Prediction: expecting a pullback to at least the 240 level before making another attempt at the 270 level. If a fail attempt happens at 270 and a double top plays out, the measured move of the drop will be 210 USD. The bullish case: 1. A successful attempt to breaking 270 , but the RSI on the 4, 6 and 12HR still need a cool down. So this is not a strong bullish case to me without a decent pullback.
COINBASE:COMPUSDShort
by CryptoRush_
COMP.usd Near-term Support Resistance: Compound Retrace WatchMarket-wide pullback took Compound with it, but still remains bullish. Mapped are Support and Resistance Zones to be observed for more clues. Sure that is a lot of lines and zones, but each one WILL react so be ready. $ 203.84 - 205.85 is KEY support that bulls really need to hold. $ 189.01 - 191.33 is a possible target for a sub-200 Stop-Hunt wick. $ 225.01 - 227.84 is key resistance to break to have any breathing room.
COINBASE:COMPUSD
by EuroMotif
1
COMP/USD towers above major cryptos like Bitcoin eying $260 Compound begins the new month in style, breaking above $250. Compound must rise above $260 to sustain the bullish case and avoid a potential double-top pattern breakdown. Compound, one of the major decentralized finance (DeFi) tokens is a consistent upward roll following the key support embraced at $160. The support came in handy after the token spiraled from highs above $260 (a high formed on August 12). The decline was also consistent with various tentative support areas at $220 and $200 and $180 failing to rise to the occasion. Compound is among the leading cryptocurrencies in the DeFi ecosystem. It is an Ethereum based token mainly used for lending. According to DeFi Pulse, an aggregator platform, COMP is currently the seventh-largest DeFi token. About $766 million of funds are currently locked in in Compound, trailing protocols like Yearn.finance and Synthetix. Aave continues to dominate the DeFi space with $1.52 billion in total locked value followed by Maker at $1.48 billion. Compound technical Picture At the time of writing, COMP is hovering at $250. All eyes are locked on breaking past the next key hurdle at $260. With the Relative Strength Index (RSI) moving higher above 70, there is a high probability that the token would in the near term climb above $260. The same bullish scenario is supported by the Moving Average Convergence Divergence (MACD). Besides, extending the action higher within the positive region, a bullish divergence above the MACD signals that buyers have the upper hand. On the downside, if the resistance at $260 is not broken, an early spotted double-top pattern could pull Compound downwards, retesting possible support areas at $220, and $200. Meanwhile, seeking support above $250 or even $240 should be key among the bulls as it would give them an opportunity to stage a formidable attack on $260 and $280 respectively. Compound Intraday Levels Spot rate: $248 Relative change: 5.10 Percentage change: 2.27% Trend: Bullish bias Volatility: High
COINBASE:COMPUSDLong
by CoinGape