The post COMP Price Trendline Breakout Builds 45% Upside Potential appeared first on Coinpedia Fintech News
With the market liquidations on the rise, Compound enters the list of top-performing altcoins with two bullish daily candles. As the bull run in the COMP price gains momentum, the daily chart reveals a breakout run impending to explode.
So, let’s take a closer look at the price action analysis to predict the targets ahead in 2024. For a longer-term analysis, check out our COMP price prediction for 2024 and the coming years.
Compound’s Breakout Run Crosses 50D EMA
With a long-coming correction phase in the daily chart, the COMP price hit rock bottom at $44 after breaking the $50 psychological cushion. The downtrend formed a declining trendline in the daily chart.
Tradingview
However, the bullish powers resurfacing in the COMP price trend breaks the trendline. Further, the recent price jump of 11% breaks past the declining 50D EMA and reclaims the $50 mark.
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