Entry point...Might bounce off 240, but I'm thinking it'll test back down around 190. Decent support, good entry level.
COMPBULLUSD trade ideas
COMP/USD In A bullish Phase Despite Rejection From $247 Monthly
Compound price rose to highs close to $250 but retreated to confirm the 61.8% Fibo support.
COMP/USD bullish scenario remains intact in spite of the drop from $247 as observed with the RSI.
Compound roared to highs above $240 towards the end of the American session on Tuesday. The Asian session on Wednesday has been characterized by increased seller dominance to the extent a reversal occurred with declines making it under $220. On the positive side, support seems to have been established above the 61.8% Fibonacci retracement level of the last drop from $247.18 to a lower price level at $152.68.
A bullish reversal is underway at the time of writing with COMP/USD exchanging hands at $225. As more and more buyers to join the market, Compound is set to continue roaring upwards. However, the magnitude of the bullish leg is not known as of now.
Looking at the token from a technical angle, we can tell that it is indeed in a bullish phase. In other words, the influence buyers have over the price is likely to stick in the market a while longer.
The Relative Strength Index (RSI) is drawing closer to the oversold (70). This follows a retreat from the overbought to the level at 66.94. As it re-enters the region, buying entries are likely to increase. This way, the volume will grow and the only way for Compound would be upwards.
The bullish grip is also emphasized by the gap the 50 SMA is making above the longer-term 100 SMA in the 15-minutes timeframe. In addition, the Moving Average Convergence Divergence (MACD) is holding ground within the positive region (precisely at 11.57. It also features a minor bullish divergence of 0.13 to further highlight the bullish picture. For now, support at $220 would be key to gains above $230 and even $240.
Compound Intraday Levels
Spot rate: $225
Relative change: 31.28
Relative change: 15.90%
Trend: Bullish bias
Volatility: Expanding
COMPOUND TOKEN I would like people to take a look, if you have something to agree let me know it in comments
COMPOUND USDrounded bottom and no downtrendlines in site?
new defi project missed the initial wave
looks good to join for the second round?
Compound 8.4.20Ok i called short on Compound once it dropped on Coinbase bc it was extremely over extended and neeeded a good pullback and accumulation. It looks like this thing is putting in a bottom around 120 and will be turning around over the next few months. Might be a good idea to accumulate all pullbacks as they are getting smaller each time.
COMP - USDAlright first long attempt was a failure shit crashed and what not, but i’ll be adding to my long here with a stop loss at 116! If we get to 163 and don’t reject let it ride to around 200, and in case we do reject hard close your longs, should be easy and remember don’t go all in when longing, ladder orders at different price ranges and let it come to you.
COMPUSD GuessJust a guess. Lower than usual confidence in the exact levels and timing of the movement. I'm already long, but if I see more bullish divergence I will accumulate more. I typically don't like to trade newer coins with less historical data, but I'll give this one a shot. As always, let's see what happens.
just above all time low, so may be time to rise!!check the pattern is reversing , make your own conclusions ,just an idea
COMP May Be Ready to PUMP4H COMP - Perpetual Futures FTX - COMP has broken out of the descending resistance and has retested it all while forming a low, a lower low and as it retested the descending resistance it has made a higher low - I'm long at 159.25 with a SL at 156 & TP at 176.25 - Without leverage risk is 2.04% & Reward is 10.68%
COMP falling wedge breakout!Looks like COMP is finally breaking out of it’s falling wedge. It’s been a long and painful downtrend, but this could be the change in tide we’ve been waiting for!
Possible trend reversal coming up for Compound?COMP, currently in a downtrend, is in an overall falling wedge pattern, which is bullish. Also, several of the most recent candles show inverted hammer patterns, which suggests we could be seeing a trend reversal soon. There has been a long downtrend lately, but things could soon take a turn upwards. Going to be watching for other signs as well.
COMP/USD Possible breakout!I´ve made this chart a week ago and so far it is staying in these ranges, in the next couple of hours, we should have a breakout to either side.
Comp incoming pump?Comp might have bottomed in the $150 region, time will tell DYOR and use stop loss.
RSI is where we needed with tis last sell offInteresting to see if finally COMP will follow most other coins in pumping, plenty of room to move and indicators looking bullish. no point in selling now
