$COMP Compound Ignition: DeFi Blastoff Begins
$COMP is surging with a 5.95% increase, reaching an intraday high of $56.08. The StochRSI indicator is over 90, signaling strong buyer pressure and potential continuation.
*Trade Setup:*
- *Entry Range*: $55.30 - $55.80
- *Take Profit Targets*:
- *TP1*: $57.50
- *TP2*: $59.20
- *TP3*: $61.50
- *Stop Loss*: $53.90
*Market Analysis:*
- 60% buy dominance in volume and order flow suggests the bulls are still in control.
- A strong close above $56 could lead to a continuation move toward higher resistance levels.
Compound Finance is a decentralized lending and borrowing protocol that supports several chains, including Ethereum, Base, and Arbitrum. Lenders can deposit cryptocurrencies into a lending liquidity pool to earn a proportional yield on funds borrowed from the pool.
Trade here $COMP
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