Is a $60 Breakout Coming for $COMP ? Chart Points to $59.00 Target

Over the last 24 hours, #Compound (COMP) surged by 14.65%, currently trading at $49.93. While the overall crypto market remains volatile, COMP is showing fresh signs of bullish momentum after recovering from a recent low of $41.81.

On the 4-hour chart, price action is forming a strong upward structure. Currently, COMP is holding near the $49.90–$50.00 zone, just below the recent high of $50.80. If it maintains strength above this level, the next short-term target could be $59.00, a key resistance zone visible from past price action. A breakout above $51.00 may trigger the next rally phase.

Technical Summary:

Current Price: $49.93

24h High: $50.80

24h Low: $41.81

24h Volume (COMP): 533,625.62

24h Volume (USDT): $25.15M

Recent Volume: 4,633.84

MA(5): 13,565.56

MA(10): 14,826.19

Market Outlook:

The recent bullish push could attract more buyers if volume holds steady or increases. However, if the price drops below the support at $47.40, it could revisit the lower range around $45.00–$43.50.

Despite mixed volume signals and previous downtrends, COMP appears ready for a potential continuation of its upward move. A break and close above $50.80 could confirm strength toward the $59.00 target, while a long-term push beyond that may eye the psychological $60.00 level.

Buy and Trade Here on $COMP