$COMP /USDT Trading Signal – Consolidation Near Support Levels

Current Price: $84.33 (-2.26%)

24h Range: $83.33 - $86.50

24h Volume: 40,038.24 COMP

Observation:

COMP/USDT is trading within a tight consolidation range after a rejection from $87.64. The price is holding above key support at $83.33, showing potential for either a breakout or a deeper retracement.

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Trading Plan (1H Timeframe):

Long Entry: $83.50 - $84.50

Targets:

T1: $85.50

T2: $86.50

T3: $88.00

Stop Loss: $82.50

Alternate Plan:

If price breaks below $83.30:

Short Entry: $83.30 - $82.50

Targets:

T1: $82.00

T2: $81.00

Stop Loss: $84.00

Analysis:

MACD indicates neutral momentum with a slight bearish bias. Bulls need to defend $83.33 to maintain a bullish structure. A break above $86.50 could signal a continuation towards $88.00.

Strategy Advice: Monitor volume and price action near support and resistance levels. Adjust stop-losses and secure profits as targets are achieved.

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