✴️ Compound Update | Looks Promising, $88 Target Next?
Updated
Compound ended June on a positive note and continued growing all the way through the 4th July, then came the correction.
6 days closing red but a bounce is happening exactly at EMA300 (grey line on the chart).
The question is this, can COMPUSD resume growing or will the correction continue?
Compound moved ahead of the others, as it moved ahead the others started to follow, slowly but surely.
If the correction ends for this pair, it is likely that it will also end for the other pairs. Let's see what the chart has to say.
EMA300 is a very strong level so is normal to see a retest before additional growth can happen.
With the strong candle we have today, it is likely that this is a real move. By real I mean that there will be a follow up.
The volume is really high and this session already cancelled 4 days of red, with the total red days being 6.
I am leaning bullish based on the chart signals and we can expect additional growth but, if prices move and close daily below EMA30 or $52, the bullish signals become invalid and we would need to see more red before up.
Even with more red, the bigger picture would still be a higher high in the weeks to come.
It is looking pretty good overall.
Namaste.
6 days closing red but a bounce is happening exactly at EMA300 (grey line on the chart).
The question is this, can COMPUSD resume growing or will the correction continue?
Compound moved ahead of the others, as it moved ahead the others started to follow, slowly but surely.
If the correction ends for this pair, it is likely that it will also end for the other pairs. Let's see what the chart has to say.
EMA300 is a very strong level so is normal to see a retest before additional growth can happen.
With the strong candle we have today, it is likely that this is a real move. By real I mean that there will be a follow up.
The volume is really high and this session already cancelled 4 days of red, with the total red days being 6.
I am leaning bullish based on the chart signals and we can expect additional growth but, if prices move and close daily below EMA30 or $52, the bullish signals become invalid and we would need to see more red before up.
Even with more red, the bigger picture would still be a higher high in the weeks to come.
It is looking pretty good overall.
Namaste.
Note
This is early but the type of action we are seeing now on the COMPUSD chart pretty much confirms that the Cryptocurrency market is ready to move ahead and hit new highs.This is great news.
Note
Compound just hit a new high today (12-July), this is quite significant for the Altcoins market. This is a very strong bullish signal.Here you can see the weekly chart where COMPUSD is green above EMA50. An additional 150% possible short-term.
Note
Compound continues straight up and the $88 target now seems pretty close and easy to hit...Note
Compound bullish and aiming for new highs works as a continuation signal for the entire Cryptocurrency market.Everything is set to continue growing for months...
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