COMP MARKET STRUCTURE ANALYSIS UPDATE
I am tracking
$COMP closely as volume expands, with the current price hovering near the mid-range of $19.6400. The volume profile indicates a relatively neutral buying pressure, with
$COMP struggling to break above the resistance zone of ~$20.3378. It's worth noting that a clean breakout above this level could lead to a potential target of $21.0000, representing a 7.5% increase from current prices if
$COMP can sustain above $20.3378.
The funding rates are relatively stable, which shouldn't impact
$COMP 's price action significantly. I'm watching the order blocks around the support zone of ~$18.9342, as a potential bounce could occur if
$COMP can hold above this level.
The VWAP is currently at $19.3200, which
$COMP is trading slightly above, indicating a slight bullish bias. I'm monitoring the market structure shifts, as a potential MSS could occur if
$COMP breaks above the resistance zone, leading to a further increase in price.
$COMP #COMP #Crypto #BinanceSquare