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COMP / TetherUS PERPETUAL CONTRACT

56.43USDTR
+3.81+7.24%
As of today at 19:07 GMT
USDT
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COMPUSDT.P trade ideas

Comp target priceThis is not financial advice. The target is based on the Lord Skin Formula. CMC Compound is a DeFi lending protocol that allows users to earn interest on their cryptocurrencies by depositing them into one of several pools supported by the platform. When a user deposits tokens to a Compound pool, they receive cTokens in return. These cTokens represent the individual’s stake in the pool and can be used to redeem the underlying cryptocurrency initially deposited into the pool at any time. For example, by depositing ETH into a pool, you will receive cETH in return. Over time, the exchange rate of these cTokens to the underlying asset increases, which means you can redeem them for more of the underlying asset than you initially put in — this is how the interest is distributed. On the flip side, borrowers can take a secured loan from any Compound pool by depositing collateral. The maximum loan-to-value (LTV) ratio varies based on the collateral asset, but currently ranges from 50 to 75%. The interest rate paid varies by borrowed asset and borrowers can face automatic liquidation if their collateral falls below a specific maintenance threshold. Since the launch of the Compound mainnet in September 2018, the platform has skyrocketed in popularity, and recently passed more than $800 million in total locked value.
Long
by Skinwah
COMP - Could Break Out SoonPreviously COMP broke out from this long contracting triangle that appears to be accumulation, but as BTC collapsed COMP also collapsed back to the potential accumulative area. That "Cause" (Wyckoff) should have built up pressure which without a real breakout - the "Effect" has not yet been realised. But now BTC is low relative to its trading range and if it drifts back up then good chance COMP breaks out here and it could be an explosive Effect after such a long sideways passage. Also RSI showing hidden bullish divergence on the 4H RSI. Target is a 1:1 ABC @$614 SL - $303 below recent low = 19R. SL - $293 below wick = 10R. Not advice.
Long
by dRends35
3
COMP - Could Be Fireworks SoonCOMP is another one that has been showing a lot of compression relative to BTC. Similar to HOT it has been in what appears to be a long and tight accumulation with BTC rallying hard. Recently curling up -it looks close to breaking out with RSI showing hidden / bullish divergence and now rising above the middle band. MACD also slowly rising to 0 also indicates breakout may be coming. BUT Similar to previous 2 longs covered, I dont like this setup with BTC so high and looking bearish. If you followed my September alt breakout longs, BTC collapse crushed breakout moves which then for some became a fakeout, others continued on up but impetus was damaged. So even with a breakout here I'm not really interested unless BTC is on an oversold bounce. With a tight accumulation like this, COMP could very well breakout and a BTC collapse bring it back to the accumulation range. If that happens and BTC is oversold, then all good and COMP may be ready to rock. But if COMP gets pushed down below this accumulation range then it can become heavy resistance. And that would be baaaad for the moon mission. As with the others if I miss it I miss it, but really I don't lose anything staying in cash. If there is a real breakout TP: 1st target around $750 for a 1:1 ABC 2nd target $1400-$1650 range as per fib projection / extension on chart - C wave extension. Be aware that I'm bearish BTC mid-long term. Patience pays well. Not advice.
Long
by dRends35
4
🆓Compound (COMP) Nov-22 #COMP $COMP COMP has an important support at $280, it can still fall to $240 but we can already start accumulating COMP targets at $360, $440 and $520 in the near term. 📈RED PLAN ♻️Condition : If 1-Day closes ABOVE 280$ zone 🔴Buy : 280 🔴Sell : 360 - 440 - 520 📉BLUE PLAN ♻️Condition : If 1-Day closes BELOW 280$ zone 🔵Sell : 280 🔵Buy : 240 ❓Details 🚫Stoploss for Long : 10% 🚫Stoploss for Short : 5% 📈Red Arrow : Main Direction as RED PLAN 📉Blue Arrow : Back-Up Direction as BLUE PLAN 🟩Green zone : Support zone as BUY section 🟥Red zone : Resistance zone as SELL section
Long
by CryptoStation
2
A remarkable place to return for COMPUSDTThe chart is on 1D Timeframe We have a really major Support zone where price mostly react to. Simultaneous hits the long term ascending trendline & shaping a beautiful pullback to broken descending trendline. As you see everything is ready to reverse, If we don't see BTC to fall anymore you can use lower TF to enter the position or wait to see how BTC will close at the end of the day , It's up to you the target would be at resistance zone around 520-530 Do not forget money management hope you have a profitable trades
Long
by FX_Achilles
5