We found missing market data for the Compound price; you won't believe how high COMP can rally


Share:
  • 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.

tm/comp/6/28/pt2

 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.

tm/comp/6/28/22

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.

Join Telegram

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended Content

Editors’ Picks

APE price nosedives nearly 9% while ApeCoin community votes on three active proposals

APE price nosedives nearly 9% while ApeCoin community votes on three active proposals

ApeCoin community is currently voting on three proposals to increase the adoption of the asset among market participants through higher engagement. APE’s recent token unlock and the active proposals could influence APE price in the coming weeks and months. 

More APE News

USDC stablecoin issuer Circle ends support on TRON due to compliance, risk management issues

USDC stablecoin issuer Circle ends support on TRON due to compliance, risk management issues

Circle announced plans to discontinue USDC on the TRON blockchain in a phased manner. USDC issuer will no longer mint the stablecoin on TRON, effective Wednesday. Circle stated that its decision is a part of risk management and USDC will remain safe with the change.

More Cryptocurrencies News

Uniswap launches v2 on Arbitrum, Polygon, Optimism, Base, Binance Smart Chain and Avalanche

Uniswap launches v2 on Arbitrum, Polygon, Optimism, Base, Binance Smart Chain and Avalanche

Uniswap v2 enables swaps on six chains and users can access it from a single interface. UNI price declined nearly 4% on Wednesday to $7.309. UNI price could revisit 2024’s peak at $7.972 as on-chain metrics support uptrend.

More Cryptocurrencies News

Ripple CEO criticizes SEC says regulator has lost lawsuits consistently; XRP price holds firm above $0.55

Ripple CEO criticizes SEC says regulator has lost lawsuits consistently; XRP price holds firm above $0.55

Ripple CEO Brad Garlingouse commented on the SEC v. Ripple lawsuit and a potential XRP ETF. The payment remittance firm recently acquired Standard Custody to venture into the crypto custodian business. 

More Ripple News

Bitcoin: BTC eyes $60,000 but correction looms

Bitcoin: BTC eyes $60,000 but correction looms

BTC has been moving up only since January 22 but could slip into a consolidation before the next leg up. With the rate at which BTC is climbing after the ETF approval, coupled with strong fundamentals, investors should consider buying the dips before BTC hits $60,000.

Read full analysis

BTC

ETH

XRP