Compound (COMP) - July 3~6 (1h)

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It is necessary to check if you can receive support at 168 until 20:00 (UTC) on July 6.

I think we need sideways to escape the downward trend line (2).

If you fall at 168, you need to make sure you get support in sections 121-140.

If you can get support in the 121~140 section until 18:00 (UTC) on July 9, I think there is a possibility that you will deviate from the downward trend line (2).

After deviating from the downtrend line (2), we need to see if we can get support above the 196.74815479 point.

Because the temporary rebound may not continue the upward trend and may fall even more, you must confirm your support.

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** Check support, resistance and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All descriptions are for reference only and do not guarantee profit or loss on investment.

Comment:

Based on the Fibonacci retracement ratio, it looks like this:

Near the middle point: 220 points.

Top breakthrough section: about 265~304

Bottom breakthrough section: about 121~168

Sideways section: 168~265

Comment:

It seems that the will to escape from the downward trend line (2) is expressed.
We need to make sure we can get out of the downtrend line (2) after 20:00 (UTC) on the 4th of July on the chart.
Although it is important to be supported by rising above the 196 support point, I think it is okay to move away from the downward trend line (2).

Comment:

You need to check if you can get support in the section 189~196.
I think sideways are needed between 189~196 and 220 points to be stable.

Comment:

There is only a time difference, and if the support is correct, I think it will rise above 196 points and check the selling quantity.

Comment:

It seems that the constant price drop is due to someone trying to buy at a cheaper price.
In this case, you should stop trading and wait.
I think we should accept the current situation as it is because we cannot move the price.

Comment:

You need to make sure you can get support at 182.78.
In addition, it is necessary to check if it can rise above the 188.08~191.87 section.

Comment:

(OKEX COMPUSDT 1D chart)

sideways seems to be in progress.
It may fall further here, but it is expected to form an important volume profile section.

Comment:

(OKEX COMPUSDT 1D chart)

We'll see if it can rise from around 155.08 after August 12th.
If it rises along the uptrend line, it is likely to form a bottom zone.