$COMP /USDT technical analysis and trade signals for the pair:
Technical Analysis:
Current Price: $125.43
Trend: The price has shown a strong upward momentum in the last 24 hours (+40.79%), indicating bullish behavior.
Support Level: $84.51 (24h Low)
Resistance Level: $126.50 (24h High)
The price is currently near its resistance level of $126.50. If it breaks above this level, the bullish momentum could continue. If the price faces rejection at this level, we could see a potential pullback towards the support level at $84.51.
Trade Signals:
1. Target 1: $130.00
Reason: A breakout above $126.50 could push the price to the next resistance around $130.
2. Target 2: $135.00
Reason: If the momentum continues after breaking $130, $135 would be a key target. This would align with continued bullish behavior and market optimism.
3. Target 3: $140.00
Reason: A sustained break above $135 would confirm further bullish momentum, with $140 being a psychological and technical resistance point.
Trade Momentum:
Bullish Momentum: With the price above $120 and the recent +40.79% increase, the bullish momentum is strong. Watch for a pullback to confirm a support level, but the overall trend favors upward movement.
Entry Point: Consider entering near $125.43 with a confirmation of upward movement above $126.50.
Stop-Loss: Place a stop-loss at $120 or below the support level of $84.51 if the price begins to reverse.
If the price fails to break above $126.50 and falls below $120, the trend might shift toward a bearish market, and revisiting lower targets may be necessary.