COMPUSDT.P trade ideas
COMP-USDTCompound- the torchbearer of the Yield Farming has established itself as one of the prominent names in the DeFi ecosystem. Being one of the early projects in the DeFi space, Compound has garnered in trust and reliance of the users that have contributed massively to the growth of the DeFi ecosystem.
At the of writing, Compound has locked in $7.01 Bn in its liquidity pools, from which, $4.46 Bn has been distributed as Outstanding loans which make up 63% of the TVL present in its protocol.
On the Daily Time Frame, BTC after hitting its All-Time High of $911 has retraced to 0.886 Fibonacci level, thereby marking its 2021 Low of ~$197. Since then, Compound has given an impulse move and is currently trading at ~$520.
As Compound has gained ~150% from its 2021 Low, it is a high probability that COMP may retrace a bit from its current levels. The immediate support to the lower side is present at $410 followed by $370.
On the higher side, the resistance to the higher side is present at $570 followed by $660. Compound holds enormous potential to be among the topmost lending protocols and thereby grow the investors’ wealth magnanimously.
💡Don't miss the great buy opportunity in COMPUSD @compoundfinaTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (307).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. COMPUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 65.
Take Profits:
TP1= @ 370
TP2= @ 410
TP3= @ 460
TP4= @ 539
TP5= @ 617
SL= Break below S2
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COMP/USDT COMP is following the ellipse, it has strong resistance at the level of 178 and 270. if it passes the 178 level then the price target is 270 and Stoploss can be taken as 150
COMP/USDTCOMP is in ellipse it is following this pattern from the launched date. it has strong resistance at the level of 178. look for the breakout in next month
Comp buy on binanceHello every one buy comp at 111.10$ price. Very good return given us if hold long term.check chart. Very good move upside. This is time right to invest.
COMP USDT Long PredictionNext stop may be 145USDT. Let us see what will happen. It is not an investment advice.
Perfect opportunity to long $Comp/UsdtThis setup looks like the best long opportunity to long $COMP as per the btc dump!
