We found missing market data for the Compound price; you won't believe how high COMP can rally
- 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.
Author
Tony M.
FXStreet Contributor
Tony Montpeirous began investing in cryptocurrencies in 2017. His trading style incorporates Elliot Wave, Auction Market Theory, Fibonacci and price action as the cornerstone of his technical analysis.
