Is it too late to buy a compound? COMP Price Almost Up 20% And AI Crypto Signals Platform Launchpad Raises $1.78 Million
With yesterday's 19.70% bounce, Compound (COMP) presents a strong buying opportunity as it consolidates at the $46-48 level.
COMP has firmly reset its technical indicators into bullish territory, and buyers may want to stock up on dips before the next leg up.
To buy a compound at a good level, patience is key as the COMP price stabilizes after the sharp crash.
COMP Price Forecast: Short-term indicators suggest potential for continued bullish momentum.
Com's 20-day EMA is currently at $41.53, below the 50-day EMA at $43.63 and the 100-day EMA at $46.91. Typically, a short-term EMA placed below the long-term EMA indicates bearish sentiment.
However, given the recent eclipse and the price of COMP currently sitting above these EMAs, the situation indicates bullish momentum.
RSI shows an interesting change for those looking to buy compound. The RSI is back at 62.98, following a significant 19.70% increase from yesterday's overbought levels of 71.42.
This pullback from overbought territory is a healthy indicator that the rally is likely to continue, assuming COMP prices maintain their current levels.
Meanwhile, the MACD histogram shows a value of 1.20, higher than yesterday's 1.07. The upward direction of the MACD indicates high momentum, further supporting the case for traders looking to buy the compound.
Key steps that should be followed up
Despite the 2.71% decline in market value to $371.8 million and the 2.11% drop in 24-hour volume to $114.3 million, the price of COMP managed to stay relatively above the immediate support level.
A mildly declining volume and market cap may signal a healthy retracement, paving the way for further upside.
The immediate resistance level of the COMP price is the horizontal zone between $51.80 and $54.66, which corresponds to the Fib 0.5 level at $54.70. If the price successfully holds above the 100-day EMA, overcoming this resistance could ignite further bullish momentum.
On the downside, immediate support is at $46.70 to $48.56, combining with the Fib 0.382 level at $47.33.
After breaking out of this level with yesterday's rally, the COMP price is currently testing this zone for support.
If it fails to hold, the next immediate support is the 100-day EMA volatility level at $46.91.
While the price of COMP is currently at a retest level, technical indicators suggest that the bullish momentum may continue.
With RSI retreating from overbought levels and MACD showing a bullish trend, the stage could be set for further upside if COMP price can maintain current levels and overcome immediate resistance.
While Compound's technical indicators suggest upside potential, investors are also keeping an eye on up-and-coming platforms like Launchpad XYZ.
With its comprehensive dashboard and various services, Launchpad aims to be the crypto investor's guide in the complex cryptocurrency market.
Launch XYZ: Leading the charge through WEB3 platforms
Launchpad XYZ is continuously strengthening its position in the Web 3.0 investment sector.
The company's data-driven platform offers a broad set of services, extensive analytics, insights into the crypto and NFT markets, spin-offs and entry into private ICOs.
LPX, the proprietary token in the Launchpad XYZ ecosystem, is useful in platform operations.
Serving as both an investment and a utility token, LPX gives its stakeholders exclusive access to various platform features.
Holding LPX for 90 days allows users to receive ICO and NFT mint alerts among other benefits.
The LPX token presale is currently offering the tokens at $0.0445 each. The pre-sale, which has so far raised over $1.78 million, includes a 15% bonus, which ends in less than 5 days.
After the presale ends, LPX will be listed on the platform's decentralized exchange (DEX).
Now visit Launchpad XYZ
Dashboard features and premium access
Launchpad XYZ's comprehensive dashboard is designed to guide investors on their journey through the crowded crypto market.
It offers a variety of services, from offering insights into play-to-find games in beta mode to fractional, high-value asset investments like real estate and supercars.
Access to premium features such as private ICOs and newly minted NFTs, as well as discounted DEX fees, is given to those who deposit at least 10,000 LPX for 90 days.
This strategy not only increases demand for tokens, but also rewards the community with tangible income.
Unique features and forward-looking roadmap
Differentiating itself from the competition, Launchpad XYZ integrates an AI-enabled search feature designed to help users identify potential investment opportunities.
The platform provides a unique solution for NFT collective purchases by allocating authorized positions to its users.
The platform is developing a game hub that will provide users with a platform to view game results in real time and find games. Early access to these game releases is given to LPX token holders.
The team running Launchpad XYZ has a clear and public front with CEO Terence Ribado steering the ship. They have laid out a clear roadmap for the future, including launching a web 3.0 wallet in Q2 2023 and a series of other features later in the year.
As a major newcomer to the Web3 space, Launchpad XYZ's pre-sale of LPX tokens gives investors an early opportunity to get in touch with the platform's growth potential.
Getting LPX in pre-sale provides a way to get in on the ground, establishing a stake in Launchpad XYZ as it executes its roadmap.
Now visit Launchpad XYZ
Disclaimer: Crypto is a high risk asset class. This article is provided for informational purposes and does not constitute investment advice. You can lose all your capital.
