Hey #BinanceSquare crew! 👋 Let’s unpack the COMP/USDT setup & see why Compound might be gearing up for a thrilling next ride.
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📊 1. Chart Setup: Triangle Breakout Alert!
COMP appears to be cradled inside a multi-year ascending triangle—a bullish formation that often leads to strong breakouts .
Resistance sits around $40–$41 (recent high), while support hovers near $36–$38 from the triangle’s base .
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🔍 2. Key Levels & Trade Plan
Level Price Range Why It Matters
Support $38–$39 Triangle base + Fibonacci zone
Breakout Entry $41–$42 Closing above triangle resistance confirms the breakout
Stop-Loss Below $38 Invalidates bullish structure
Targets TP1: $45–$46; TP2: $55–$60; TP3: $65+ Aligned with triangle height + next resistance zones
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📈 3. Technical Indicators: Mixed Signals
On Binance data, moving averages lean slightly bearish, but oscillators show bullish undercurrents—MACD neutral, RSI ~50, and Stochastics positive .
That means, momentum is building—but it's not yet fully confirmed. A breakout above $41–$42 would light the fuse.
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🌐 4. The Broader Picture: Mid-Term Targets
If COMP breaks the triangle, analysts anticipate potential moves toward $55–$60, possibly even $65 .
On a weekly scale, some suggest a wave up to $100+, though that's higher-risk/timeframe .
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🛠️ 5. Square-Style Trade Gameplan
1. Entry: On a clean close above $41–$42, or a dip and bounce near $38–$39.
2. Stop-Loss: Just below the base of the triangle at $37.50–$38.
3. Profit Targets:
TP1: ~$45
TP2: ~$55–$60
TP3: ~$65+
👉 Keep trade size balanced and stick to your plan—Square fam knows that discipline wins 🏆
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🌟 6. Why This Trade Stands Out
Chart pattern: Ascending triangle + accumulation → good risk:reward setup.
Indicators cautious but hopeful: Mix of bearish MAs + bullish oscillators → breakout could be explosive.
DeFi sentiment strengthening: COMP is a DeFi staple, and many trends support renewed interest .
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✅ Final Take – Prepped & Ready
COMP/USDT looks almost ready to break higher—but we need confirmation. A move above $41–$42 opens the door for solid upside. Just remember:
Set your stop-loss 📉
Lock profit levels in stages 💰
Step in only when your plan hits
Stay sharp, maintain discipline, and keep that Square spirit high! ⚡
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💬 Over to you, Square fam! Are you expecting a breakout on COMP? Waiting for a pullback? Drop your thoughts & let’s strategize together 🔁