COMP: Approaching Resistance
Compound (COMP) technical analysis:
Trade setup: We wait for price to break back above $47 resistance and 200-day moving average (~$45), which could signal resumption in Uptrend with near-term upside potential to $60 resistance.
Trend: Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI ~ 50 (Neutral). MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing.
Support and Resistance: Nearest Support Zone is $36, then $30. The nearest Resistance Zone is $47, then $60, and $70.
Trade setup: We wait for price to break back above $47 resistance and 200-day moving average (~$45), which could signal resumption in Uptrend with near-term upside potential to $60 resistance.
Trend: Downtrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI ~ 50 (Neutral). MACD Histogram bars are rising, which suggests that momentum could be nearing another upswing.
Support and Resistance: Nearest Support Zone is $36, then $30. The nearest Resistance Zone is $47, then $60, and $70.
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