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COMPUSD

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 *Thank you to those who donated, I very much appreciate it. *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:COMPUSDShort
by Art0fChart5
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
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. -------------------------------------------------- ----- 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. -------------------------------------------------- ------------------------------------------- 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.)
by readCrypto
6
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
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
BINANCE:COMPUSDLong
by CoinGape
2
COMP/USD - Slowdown formation (CAUTION)Hello, Traders! Today, we're gonna look at the COMPOUND decentralized protocol. COMP had a great start finding its all-time low early on at $61 (still a 100% return from the $30 USD ICO). COMP then began to be listed onto various exchanges and was subjected to ferocious buying activity seeing COMP soar all the way to $372 USD only 6 days after the token ICO finished. This was a 1100% return from the ICO price – in less than a week! However, since then, COMP has consistently lost its value, falling from $372 USD towards $135 USD representing a 63% decrease from ATHs in June. However with many DeFi coins performing spectacularly recently (especially the one later on in the report…), what does the future price action hold for COMP? The contraction of PPs can suggest that the current trend could be coming to an end. However, as demonstrated below it appears that there will be a short term sideways trading period – likely until the end of these PPs. Since COMP entered the market it has created numerous formations. The main formations have typically been parallel channels with the addition of one descending triangle. However, the significance of these previous formations is the ever-decreasing angle of the resistance lines as shown on the chart. The indicators are currently very mixed, pointing towards both directions. To take a position now would be highly risky, waiting for a breakout to occur should decrease the risk. This breakout will also change the indicators and increase the following in one particular direction. What would you suggest the market hit later this week? Watch out for the market and good luck!
LLong
by UnknownUnicorn10064030