$COMP BREAKS HIGHER WITH BULLISH MOMENTUM — BUT RSI IS FLASHING OVERBOUGHT
$COMP is trading around 25.50, up 3.70% in 24H, after a strong recovery from the 22.82 low. The 1H chart shows a clear bullish structure with higher highs and higher lows, while price remains above the Supertrend at 24.66 and SAR at 24.44.
MACD is firmly positive and expanding, confirming that momentum is still favoring buyers. However, RSI is around 85, which signals an extremely overbought condition. That means chasing the current breakout carries higher pullback risk.
Key levels: Resistance: 25.68 Breakout target: 26.19 Support: 24.78–24.66 Major support: 24.44
Trading setup: I prefer a pullback toward 24.78–24.66 followed by a bullish rejection or lower-timeframe structure shift rather than chasing 25.50.
Targets: TP1: 25.68 TP2: 26.19 Extended target: 26.50+
Invalidation: A sustained 1H close below 24.44 would weaken the bullish structure and put the breakout setup at risk.
Overall bias: Bullish, but overbought. Wait for confirmation or a healthy retest before entering.
Not financial advice. Educational analysis only.
#COMP #CryptoTrading #Altcoins #TechnicalAnalysis #BinanceSquare $COMP
$COMP is trading around 25.50, up 3.70% in 24H, after a strong recovery from the 22.82 low. The 1H chart shows a clear bullish structure with higher highs and higher lows, while price remains above the Supertrend at 24.66 and SAR at 24.44.
MACD is firmly positive and expanding, confirming that momentum is still favoring buyers. However, RSI is around 85, which signals an extremely overbought condition. That means chasing the current breakout carries higher pullback risk.
Key levels: Resistance: 25.68 Breakout target: 26.19 Support: 24.78–24.66 Major support: 24.44
Trading setup: I prefer a pullback toward 24.78–24.66 followed by a bullish rejection or lower-timeframe structure shift rather than chasing 25.50.
Targets: TP1: 25.68 TP2: 26.19 Extended target: 26.50+
Invalidation: A sustained 1H close below 24.44 would weaken the bullish structure and put the breakout setup at risk.
Overall bias: Bullish, but overbought. Wait for confirmation or a healthy retest before entering.
Not financial advice. Educational analysis only.
#COMP #CryptoTrading #Altcoins #TechnicalAnalysis #BinanceSquare $COMP
