Compound (COMP) Drops Sharply After Reaching All-Time High

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In Brief
  • COMP reached a new all-time high on Sept 1.

  • There is resistance at $260 and supports at $205 and $170.

  • The price has just begun wave 3 of a bullish impulsive formation.

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The Compound (COMP) price briefly reached an all-time high price on Sept 1, but was rejected the same day and dropped sharply afterward. The price is expected to find support near $205 before resuming its upward movement. COMP Long-Term Trading Range The COMP price has been increasing at an accelerated rate since Aug 25 when it reached a low of $161. The increase continued until Sept 1

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Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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