Technical analysis regarding the price of COMPOUND in relation of dollar attached to Binance for the next scenarios, based on daily movement.
The price is in a neutral zone, completing its fifth bullish leg (impulse wave) - in my view - and it will be able to effect its corrective waves and, soon afterwards, continue with its upward trend (lines projected on the chart).
Taking the bullish pivot, projecting its channels (Fibonacci) I get the levels from where the price can reach, which coincides with the maximum price reached in its beginning.
The volume is increasing considerably, and the price is moving away from the 34-period Exponential Moving Average (which in the context, the price will return to it and then go up), basically serves with a price support.
This crypto has been valuing a lot and has a good potential to continue with this graphic and technical projection.
disclaimer
*** This is not a recommendation to purchase and/or sale. It is for educational purposes only. ***
The price is in a neutral zone, completing its fifth bullish leg (impulse wave) - in my view - and it will be able to effect its corrective waves and, soon afterwards, continue with its upward trend (lines projected on the chart).
Taking the bullish pivot, projecting its channels (Fibonacci) I get the levels from where the price can reach, which coincides with the maximum price reached in its beginning.
The volume is increasing considerably, and the price is moving away from the 34-period Exponential Moving Average (which in the context, the price will return to it and then go up), basically serves with a price support.
This crypto has been valuing a lot and has a good potential to continue with this graphic and technical projection.
disclaimer
*** This is not a recommendation to purchase and/or sale. It is for educational purposes only. ***