what's going on in $COMP market currently
and what does it says
#ellonmask_comeback_for_new_era
COMP/USDT 5-minute chart is called a:
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๐ป Bullish Pennant Pattern
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๐งฉ Pattern Breakdown:
Strong prior uptrend: The price surged from around $43 to $50.55.
Then formed a tight consolidation zone with:
Lower highs
Higher lows
Forming a small symmetrical triangle (a pennant)
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๐ก What It Means:
This is a continuation pattern, and here's what it usually signals:
Buyers pushed price up aggressively (the flagpole).
Market is cooling off, creating the pennant as volume drops.
If price breaks above the upper trendline of the pennant with volume, ๐ it's likely to continue upward โ resuming the prior trend.
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๐ฎ What's Next (Likely Scenarios):
โ Bullish Breakout (most likely)
Entry trigger: Break above $50.00โ$50.20
Target: $52.00โ$53.00 range (flagpole height projection)
Stop Loss: Below $48.80 or the lower pennant line
โ Bearish Breakdown (invalidates pennant)
Entry: If breaks below $48.40
Target: $46.00โ$45.00
SL: Above $49.70
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๐ RSI: 51.55
Neutral โ could go either direction
Needs momentum from volume or breakout candle
stay tuned with us
