$COMP COMPUSDT — Breakdown from Macro Downtrend Support
COMPUSDT is trading at $23.86, breaking down from a critical support level that had held for weeks. The asset is in a severe macro downtrend, down nearly -70% over the last year, and this recent breakdown signals an acceleration of the selling pressure. Every major timeframe is aligned bearishly, offering a high-probability short setup for trend continuation.
Trade Plan (Short - Breakdown Acceleration)
Entry (Short): $23.85 – $23.70 (on a continuation of the breakdown momentum, ideally following a retest of the broken support near $24.00 as new resistance).
Target 1: $23.00 – $22.80 (initial measured move target from the breakdown range).
Target 2: $22.00 – $21.50 (next major support zone and a key psychological level).
Stop Loss: $24.20 (above the breakdown point and the recent swing high).
My View
The breakdown from consolidation in a strong downtrend is a classic sell signal. It indicates exhaustion of the last defensive buyers. The most probable path is a swift drop to the next significant support level. This setup is for trend traders looking to add to a short position on confirmed weakness. Wait for a retest and rejection of the $24.00 area for an optimal entry, or enter on a break below $23.72 (the 24h low).
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