- Compound price has missing data points on tradingview's top exchanges.
- Compound price has a rare 30% invalidation level.
- Invalidation of the macro bullish outlook is a breach below $81.25.
Compound price data has critical data missing from the technicals on common trading platforms. A very bullish scenario is in the cards.
Compound price could rally 1000%
Compound's COMP price could be a very favorable digital asset in the coming weeks. This article is meant to inform investors of data excluded on Tradingview's Binance, Coinbase and Kucoin exchanges for reasons that have yet to be explained.
Compound price has shown an influx of interest as on-chain data shows a massive accumulation of the Defi token under the hood. The on-chain metrics have prompted analysts at FXstreet to hunt for technical data, noticing that Tradingview's Binance, Coinbase, and Kucoin exchanges' did not display market data that occurred in the fall of 2020.
COMP-USD WeeklyChart: Binance, Coinbase & Kucoin
After doing some digging, we were able to find pivotal information as Cointrader.pro still has Compound's historical data intact. When analyzing the data, it appears the Compound price could be one of the best cryptocurrencies to invest in from a long-term perspective. The Defi token shows a large 5-wave impulse wave up into the highs at $913, followed by a 3-wave decline into the current $114 price levels. The technicals suggest a 30% invalidation level from a macro point of view, which is a rarity amongst cryptocurrencies as the market is in a persistent battle against inflation.
It is uncertain why Compound's market data may be missing and who is to blame. We have not reached out to any of the third parties involved with the missing data points. What is more important is the invalidation level for a potential uptrend. If the Onchain data is correct, a new bull run of over 900% could occur, targeting $1,000 from a macro perspective.
Invalidation of the bullish macro trend will be a breach below the November swing low at $81.25. If $81.25 is breached, consider the potential uptrend void. The bears could press the COMP price as low as $30, resulting in a 75% decrease from the current Compound price.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
TRON gains 10% in 2024, supply of stablecoins reaches over $50 billion in Q1
TRON, a blockchain-based digital platform, has seen positive growth in the first quarter of 2024, as seen in a Messari report. TRON noted gains across several metrics like market capitalization, revenue and total value locked.
XRP hovers near $0.50 as Ripple CTO addresses concerns related to stablecoin launch
XRP is hovering near $0.53 on Friday, spending nearly all week below $0.55. Ripple CTO David Schwartz addressed concerns on stablecoin and XRP utility on Thursday.
Terraform Labs set to restrict access for users in the US after recent ruling in SEC lawsuit
Blockchain company Terraform Labs said Thursday that it will restrict access to some of its products and services for US-based users as it expects to receive a court order soon in light of its legal battle against the US Securities and Exchange Commission (SEC).
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s (BTC) recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Bitcoin: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s (BTC) recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.