COMP broke the downtrend channel. What's next?



COMP also broke the downtrend channel a few hours ago, and we're waiting for more confirmation.

The upper band of the downtrend channel can confirm the breakout and work as support.

Another support level is also static and shown on the chart.

The price is now testing a resistance area, and it can reach the potential targets shown on the chart in case of crossing.

Scenario one:

The price will increase, and the buy volumes in the market can help the price reach the potential target levels.

Scenario two:

The price will lose Buy volumes, get rejected by the static resistance level, and fall into the support zone.

RSI is showing overbought signals, so be careful with your long positions.

The Speedometer indicator shows Sell volumes on the market for COMP on a 1D interval.

Now have in mind: ANY news about this coin can cause a big pump or dump at this moment!

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