IS COMP COILING UP OR COILING DOWN? 🌋
#COMP price action is trapped in a subtle upward channel, but hasn't hit the channel's bottom yet. This could indicate a potential dip of around 20%, bringing the price down to $41.00.
However, this is just one technical indicator. Let's explore other factors:
Market sentiment: Is the broader crypto market #Bullish or bearish?
News and events: Are there any upcoming developments that could impact $COMP ?
On-chain analysis: What does the on-chain data reveal about investor behavior? 🔗
While a 20% drop is a possibility, it's not guaranteed. A breakout above the channel could signal a stronger upward trend.💪
What are your thoughts on this❓