COMPUSD
COMPUSDT - Buy buyPrecondition:
Global trend down
Local trend up
What Is Compound (COMP)?
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.
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P.S. I personally will open entry if the price will show it according to my strategy.
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Possible trend reversal confirmation and next resistance levels*DISCLAIMER: I am not a financial advisor and this is not financial advice as these are purely my opinions and speculations. You should always do your own due diligence before trading or investing.
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✳️Compound/USDT (27/10) #COMP $COMP #COMPUSDTCOMP is continuously breaking the lowest levels so we should not expect too much on this coin.
Currently, selling pressure has subsided and COMP is looking to rebound with Inverse Head & Shoulders. This pattern will be formed if the COMP fails to break the 92$ bottom and bounce back to break the 108$ zone. The target is the 120$ zone.
The main trend of COMP is currently moving sideways in the 90-120$ zone.
COMP will continue to bottom out if it breaks below 90$
Compound (COMP) - October 10Hello?
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At this time, the downtrend cannot be seen as overflowing.
You have to wait until you get the same flow as A.
You need to make sure it can move like the B flow shown on the Volume indicator.
I think we can say that we are out of the downtrend by going sideways by rising above 162.08 points on the current chart.
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** Check support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All explanations are for reference only and do not guarantee profit or loss on investment.
Explanation of abbreviations displayed on the chart
R: A point or section of resistance that requires a response to preserve profits
S-L: Stop-Loss point or section
S: A point or segment that can be bought for generating profit as a support point or segment
(Short-term Stop Loss can be said to be a point where profits and losses can be preserved or additionally entered through installment trading. You must trade from a short-term investment perspective.)
COMP/BTC (4H TF Bear Flag?)💎Technical Analysis Summary💎
BINANCE: COMPBTC
-After breaking the key level of support at 0.0116 sat
-The price keeps falling and now it is also breaking its local support
-This could be a small Bear flag that could fall the price down to 0.0088 sat
-If you are waiting for a trend reversal, it might take more days or even weeks
-But if you are playing on the Bearish side
-This might be a trigger event on your strategy
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Looking for THESE confirmations of a reversal*DISCLAIMER: These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.
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*Let me know in the comment section if you agree or disagree, would love to hear your ideas too.
Bullish signals invalidated - expecting more downsideThe current situation:
1. Price action previously formed a double bottom on the 4HR chart, but once it got to the neckline at about 124 USD, it was rejected and apparently does not have the strength to break out. Currently, it looks more like a double top with a measured move of 110 USD from the neckline at about 117 USD.
2. There was bullish divergence on the 4HR chart, but that did not seem to have played out strong enough to get above the double-bottom neckline.
The bullish case: price action retries and breaks the double-bottom neckline towards and goes towards the measured target of about 132 USD
The bearish case: price action breaks below the double-top neckline and goes toward the measured target of 110 USD
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*Let me know in the comment section if you agree or disagree, would love to hear your ideas too.
*These are purely my speculations and not financial advice. You should always do your own due diligence before trading or investing.
COMP/USD (Retest Key Area of Support?)💎Technical Analysis Summary💎
FTX: COMPUSD
-Compound Token is unable to break the trendline resistance
-It is facing rejection and might retest key level of support at 120s area
-My advice is to wait for the proper upside breakout before planing your entry
-You may look to enter with momentum breakout or wait for a pullback
-The upside potential is up to 180s area of higher
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Please Exercise Risk Management
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