Key Takeaways
- COMP price soared 50% in 24 hours post-Upbit listing, breaking a bearish trend.
- Trading volume exploded from $25M to $200M, signaling strong market interest.
- Next targets: $67.42** (wick top) and **$76.78 (0.618 Fibonacci level).
Breaking the Bearish Cycle
After trading at $38.83**, COMP rallied to **$52.79 following its exclusive KRW pairing on Upbit. The surge formed a bullish engulfing candle, disrupting previous lower highs/lows. The RSI (63.43) confirms growing momentum.
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Volume Spike Validates Rally
- Pre-listing volume: $25M
- Post-listing volume: $200M+ (10X increase)
High volume + price rise = sustained bullish potential.
Chart data sources: TradingView, Santiment
Technical Outlook
Bullish Indicators:
- Bull Bear Power (BBP) turned positive.
- Money Flow Index (MFI) rising.
Potential Targets:
- $67.42 (previous wick high)
- $76.78 (0.618 Fib level)
Risks:
- Volume drop could invalidate the uptrend.
- Failure to hold $59.82** may trigger a fall below **$40.
FAQs
Why did COMP price surge?
The Upbit listing introduced new liquidity and investor demand, driving a 50% gain.
What’s next for COMP?
If volume sustains, $67.42–$76.78 are feasible. Watch RSI/volume trends.
Is COMP a good investment?
DeFi governance tokens like COMP carry volatility. Always DYOR and assess risk tolerance.
👉 Best practices for trading DeFi tokens
Disclaimer: This content is informational only. Cryptocurrency investments are high-risk—consult a financial advisor before deciding.