Compound and The Graph buyers are pumped. COMP/USDT bulls need to comprehensively flip $440 for a run to $530. Meanwhile, GRT/USDT is bullish above $0.50.
The Compound platform is one of the first projects in DeFi now managing roughly $8.7 billion in assets. COMP primes its ecosystem, useful in governance.
There is rejuvenation in crypto, an expansion that's boding well with COMP bulls.
The overall liftoff has benefited prices, helping its valuation break above stubborn resistance levels when going to press.
COMP prices are flat-lining along the middle BB (in the daily chart) while being relatively stable against the USD and ETH.
The odds of trend continuation remain high, though prices are stuck in a tight $60 zone.
A confirmation of July 20 to 22 gains could see COMP rally to $530 in a welcomed bullish run.
On the other hand, a contraction below $380 could dash hopes, potentially triggering a sell-off towards $340.
COMP buyers are ecstatic about what lies ahead.
An overt indicator, in this case, is the rising TVL—making Compound as one of the most active DeFi protocols—a fundamental endorsement.
Technically, a breakout above $440 will be the amber lighting demand, helping lift COMP/USDT back to $530—an opportunity for bulls.
Meanwhile, an unexpected dump below $380 and this week’s lows could possibly end the fanfare.
Data scientists find the protocol indispensable in their experiments. The indexing platform is a rich data well, endlessly feeding models using GRT as its internal currency.
Prices are inching higher, slower than expected—but still up, an endorsement for bulls.
As of July 30, GRT prices are up three percent against the greenback, rebounding from July 2021 lows.
GRT/USDT prices are boxed within a $0.25 zone in a possible accumulation—if the breakout is to the upside.
Bulls may have the best of bears today.
Even though the July 29 bar closed with a long upper wick suggesting weakness in the lower time-frames, a recovery above its high is enough to buoy buyers targeting $0.75.
The excitement among buyers is palpable. It is thus far supporting prices, but more is needed.
Technically, every low could offer a loading chance for aggressive GRT buyers targeting $0.75 in the short term.
However, if GRT dumps from spot rates, prices may slide back to $0.50.