$COMP

Facing short-term difficulties on the daily timeframe, but what is actually happening? Why do all daily candles continue to close at very low levels even with increased trading volume? Let me explain.

Resistance has been present in the form of EMAs. Recently, COMPUSDT managed to break above EMA21 and EMA34, then EMA55. However, there is still one key level that needs to be broken, EMA89. This is the blue line on the chart.

Two days ago, COMPUSDT moved and closed above this level. Yesterday, there was a Doji candle but without a bounce. Today, the move is green above $45.27 (EMA89). This is a bullish confirmation.

Look what happened in November 2024, it’s the same thing. When COMPUSDT managed to close daily above EMA89, we had a massive upward wave. It will be the same but different. The difference is that this upward wave will be much larger, and prices will rise.