I'll break down a promising asset #COMP
📈Compound - allows the owner to delegate voting rights to an address of their choice: the owner's wallet, another user, an app, or a DeFi expert. Anyone can participate in the management of Compound by receiving the delegation, without having to own COMP.
👀The asset formed a global support level around $34 and a global resistance level around $80 after updating the historical low. In this range, the asset has formed an accumulation pattern, which indicates the presence of large capital and accumulation of assets, as well as formed an ascending wedge, thanks to which we are gradually moving up.
🟣 In the near term, I expect the end of the reaction from the lower boundary of the channel and the beginning of an aggressive markup of the asset. The first target for us will be to update the high at the resistance level and consolidate above it. This in turn will give even more fuel for further markup.
🟣 In the medium-term perspective we would like to see growth after breaking the resistance level in the neighborhood of $175. Big volumes are concentrated there, after breaking it the price can grow further without any obstacles.
🟣Globally I would like to see the growth up to $503. The asset is very strong in terms of fundamentals, and also spent a long time in the accumulation zone, so I assume that the asset will soon give a good exit up.
