The post COMP Price Ready For Triangle Breakout, Awaits $60 Crossover appeared first on Coinpedia Fintech News
Despite the recent volatility spikes in the overall market, Compound price action shows a triangle pattern formation in the daily chart. The symmetrical pattern reflects a lack of volatility and compression in the COMP price trend.
The ongoing resonance within the symmetrical pattern resonates with the market cycle but limits the range between two boundary trendlines. Hence, the breakout on either side will be the trendsetter. As per the COMP price prediction for 2024 and the coming years, the bulls have better performance chances.
Source- Tradingview
The compressing COMP price trend forms a symmetrical triangle pattern for more than 6 months. Further, the low volatile phase bottles up the sideways pattern and teases a breakout shortly.
The recent bullish reversal from the support trendline challenges the overhead resistance trendline and hints at a bullish break. Moreov
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