Trade Setups of UNI and COMP explained in altFINS video
In the latest Video, the CEO of altFINS Richard, reviewed two trade setups: Uniswap (UNI) and Compound (COMP). Watch video here.
These coins also happen to be a couple of well established project. Uniswap is the largest DEX and Compound among top 3 largest DeFi lending platforms. It’s always good to have project with sound underlying fundamentals, it reduces the risk of some catastrophic loss.
Trade setups as described in our Curated Charts section:
Uniswap (UNI) — following a breakout from Falling Wedge, price is showing clear signs of trend reversal. ST and MT trends are up already, making Higher Highs and Higher Lows. Price is up 10% today and getting close to that $10 resistance area again. It’s positive to see it bounce off of 200-day MA support, strongly. Trend reversal is well under way. If it breaks above $10, it’s like to revisit $12.50 which would basically complete a textbook Falling Wedge breakout. The distance of the breakout should be about the width of the wedge at the beginning.
Compound (COMP) — could be getting ready to explode and there are early signs of trend reversal. Price broke above $50 level and retested that 3x! It could begin to approach $100. COMP is a high quality, well established DeFi lending platform — among top 3 largest.