COMPUSDT.P trade ideas
✴️ Compound Likely To Recover (Resume Growing)The daily chart looks crappy and it is hard to predict when a correction will end but the 4H chart is starting to show some early recovery signals.
Compounds (COMPUSDT)
We have 5 signals that are pointing towards and up-move.
Remember, if this one moves everything else does the same and many are already breaking bullish.
1) Higher lows. This can be seen easily on the chart so it needs no explanation.
2) High volume on the last session, several times above the average.
3) Double bullish divergence. With the MACD and RSI.
4) Bullish hammer and Doji. Both can work as reversal signal, the Doji with high volume giving strength to the hammer.
5) Altcoins market continues with a bullish bias.
The hammer is invalidated on a 4h close below $54.
The chart in general can change but as it looks now, the bulls are waking up.
Namaste.
Triangle Pattern | $52Daily Chart
Compound BINANCE:COMPUSDT is in the triangle pattern and trading at 63.9x
Compound rejected 3 times from the support. That means it can go up to the resistance around 72 or further higher trend line
If Compound close below 60, it will go down the support around 52
Wait for next move
COMP/USDT (LONG NOWWW)Previously i posted my analysis of COMP when it was at 50$ range and clearly indicated the upcoming gains and also the important zones that will be followed.The price action followed our analysis and ranges 100% accurately.It went to the resistance zone of 86$ and now retested to the zone of support 68$.
Now, its time to retest the 86$ resistance again.As indicated in the chart a double bottom is created at the support area of 68$ which is indicating the uocoming retest.So it will be wiser to have a LONG position now.
#COMP/USDT
Entry: 68.5-72
Take profit: 81-86
Stop loss: 63.88
STAY PATIENT
STAY SAFE
looking for a correctionMy previous idea stoped . Sometimes we have a multiple wave for wave 3. Therefore, the 3rd wave can be completed and we are now completing the 5th wave. Divergence is also evident between waves 3 and 5. The distance between the peaks and the previous bottoms gradually decreases.
Therefore, I still expect that we have a wave-like correction before climbing to the $93-$117 range. In this case, the range of $63 and $52 will play the role of strong supports and it is unlikely that the price will be able to fall below the range of $52.
The general trend of this coin is upward and it pursues high goals, and the period of this analysis is short-term.
COMP come back to monthly supportThe instrument was heavily overbought and has been in a downtrend for a couple of days now, there is a strong support level at 58.50, which we have already hit once, according to the fixed volume profile, we can see that we have already gone beyond the lower part of the trade and soon the support level will be broken. I expect a small trade near the 58.50 level and an impulse breakout into the short.
COMPusdtThe COMP token has been experiencing a continuous downtrend, and there are indications of a potential (ChoCh) pattern, which could signify a trend reversal. It may be worth considering a long position at this point, with a target set before the entry point for a short position. However, please be aware that trading decisions should be made carefully, considering market conditions and your risk tolerance.
COMPUSDT could be Aiming for 30% Growth in the Blink of an Eye💎The low timeframe analysis of #COMPUSDT reveals that a consolidation phase has commenced after the price broke below the descending channel. Notably, there have been two significant bounces during this phase—one from the 78.6% Fibonacci resistance level at $80, and the other from the 88.6% Fibonacci level near the psychological support at $60. While the overall trend remains bullish, the current stage seems to favor buyers.
💎As #COMP continues to trade near the lower boundary of the formed range, buying interest is likely to increase. However, it is essential to be mindful that before any significant price surge, #COMP may enter the buying liquidity zone, which lies just below the recent low at $58.35. In such a scenario, the bottom of the extended descending channel could be tested.
💎On the other hand, if the extended descending channel is decisively broken, and the price falls below the $51.81 support level, bullish sentiments may wane as increased selling pressure could emerge. In summary, while the probability of an uptrend is currently high, there is potential for a relatively fast 30% price increase. 💎
COMPUSDT Elliott Waves AnalysisHello friends.
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Everything on the chart.
Entry: market and lower
Targets: 84 - 90 - 95
after first target reached move ur stop to breakeven
Stop: ~59 (depending of ur risk). ALWAYS follow ur RM .
RR: 1 to 4
risk is justified
Good luck everyone!
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It's not financial advice.
Dont Forget, always make your own research before to trade my ideas!
Open to any questions and suggestions
Compound COMP price rose from the dead)The Compound project was fundamentally quite strong when it was sold / presented to crypto market participants)
However, over the 2 years of being in a downward trend, the price of t he COMP token has fallen 39 times from a high of $910 to a low of $23.
And now, in the last two weeks, a miracle has happened, the price of CompUSDT has come to life and is showing steady growth. Moreover, it is catching up with the crypto market, which started growing much earlier.
Currently, looking at the chart, we do not believe that the CompUSD price will break through and consolidate above the strong resistance zone above $55-65 at the first attempt.
Unless you have an insight as to why the COMP price should grow non-stop right now, then please share it in the comments)
In all other cases, we consider it safe to buy COMPUSDT only when the price is firmly established above $65
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COMP: Pullback in UptrendCompound (COMP) technical analysis:
Trade setup : Price broke above 200-day MA with huge volumes and confirmed a bullish trend reversal. It’s also broken above $70 to signal uptrend resumption and hit a high of $87 where some trader began taking profits. Priced pulled back to the nearest support of $60, which also lines up with Fibonacci levels of $62 (38%) and bounced right off of that. Upside potential to $90 next.
Trend : Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI > 55 (Bullish). MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing.
Support and Resistance : Nearest Support Zone is $60 (previous resistance), then $47. The nearest Resistance Zone is $70, which it broke, then $93.
COMPUSDT LONG SETUPCOMP is trading above the previous bearish trend line and reclaimed it successfully and there is a bullish continuation pattern of higher highs and higher lows and there is bullish hammer formed on the chart. all signs are bullish for now
This is not a financial advise do your own research before getting into the market
COMP: be carefulDisclaimer
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A qualified professional should be consulted before making any financial decisions.
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COMP: Pullback in UptrendCompound (COMP) technical analysis:
Trade setup : Price broke above 200-day MA with huge volumes and confirmed a bullish trend reversal. It’s also broken above $70 to signal uptrend resumption and hit a high of $87. Now we’re likely to see some profit taking selling pressures, which could offer an attractive swing entry in uptrend. Where will this pullback find support and stabilize? Nearest support is at $60, which also lines up with Fibonacci levels of $62 (38%).
Trend : Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI > 55 (Bullish).
Support and Resistance : Nearest Support Zone is $60 (previous resistance), then $47. The nearest Resistance Zone is $70, then $93.
COMP/USDT Time For A Turnover! Hey traders 👋
COMP/USDT pair is next on our watchlist with a good potential for a turnover here. COMP had a massive bullish run which resulted in more than 220% of price movement without any major corrections.
P.S. Remember that weekends are not the best times for trading so do keep your risk management in order!
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Swallow Team
Disclamer:
We are not financial advisors. The content that we share on this website are for educational purposes and are our own personal opinions.
