[ad_1]
COMP, the native token of DeFi lending protocol Compound Finance, has drawn much attention following its positive price performance in the last day. According to data by CoinMarketCap, COMP has risen by 11.03% in the 24 hours, emerging as the top daily gainer of the market.
This price rise is quite significant, as COMP recorded some price drops in the last few days, which may have prompted concerns for its numerous investors after the token’s remarkable, bullish form in recent weeks.
COMP To Break Key Resistance Level?
In the third week of June, COMP embarked on a stunning bullish run which saw the DeFi token gain over 125% to trade as high as $69.15 as of July 4.
Related Reading: Compound (COMP) Token Rallies Over 100% After CEO Quits – Details
However, after attaining this price level, COMP came under significant selling pressure, losing over 9.63% of its market value in the last week before experiencing its recent price boost today.
Looking at its 4-Hour Chart, its Relative Strength Index – a tool for measuring the pace and variation of price movement – is set at 53 but is currently ascending toward the overbought zone meaning the current price uptrend may last for a while.
In tandem, the token’s Moving Average Convergence Divergence (MACD) line just crossed above the signal line, which is also interpreted as a bullish signal.
Analyzing its price movement, COMP faces major resistance at the $70 price zone as the token has failed to break past this barrier twice in the last three weeks.
However, if the market bulls are able to sustain the current buying pressure pushing past this price level, COMP is likely to resume its initial bullish trajectory.
If the token fails to break past the $70 price zone, however, it will likely fall and retest at the $50.00 price mark, which currently represents its imminent support level.
At the time of writing, Compound (COMP) is trading at $58.62, with a 0.60% decline in the last hour. The token’s daily trading volume is valued at $136 million, having gained by 216.75%.
COMP Trading At $58.56 On The 4-Hour Chart | Source: COMPUSD Chart On Tradingview.com
General Crypto Market In Red
Amidst COMP’s market gain, a majority of the crypto market is experiencing slight losses, with the total crypto market cap declining by 0.77% in the last 24 hours, according to data by CoinMarketCap.
Bitcoin (BTC), the premier cryptocurrency and market leader, is down by 0.60%, while Ethereum (ETH) has also seen its market price drop by 0.56%.
Related Reading: ADA Price Consolidates Below $0.30 – What Could Trigger A Sharp Decline?
Other notable cryptocurrencies such as Dogecoin (DOGE), Solana (SOL), and Litecoin (LTC) are also experiencing similar fates, losing to the tune of 1.86%, 3.54%, and 3.80%, respectively.
Featured Image From Economic Times, Chart From Tradingview
[ad_2]
Source link
Can you be more specific about the content of your article? After reading it, I still have some doubts. Hope you can help me.
Your point of view caught my eye and was very interesting. Thanks. I have a question for you.
Your article helped me a lot, is there any more related content? Thanks!
Can you be more specific about the content of your article? After reading it, I still have some doubts. Hope you can help me.
Can you be more specific about the content of your article? After reading it, I still have some doubts. Hope you can help me.
Thank you for your sharing. I am worried that I lack creative ideas. It is your article that makes me full of hope. Thank you. But, I have a question, can you help me?
Your point of view caught my eye and was very interesting. Thanks. I have a question for you.
Your point of view caught my eye and was very interesting. Thanks. I have a question for you.
I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article.
15win4… short, sweet, and to the point. Does the site match the name, tho’? Only one way to fine out! Let’s visit! 15win4
Thank you for your sharing. I am worried that I lack creative ideas. It is your article that makes me full of hope. Thank you. But, I have a question, can you help me? https://www.binance.com/register?ref=IXBIAFVY
Thanks for sharing. I read many of your blog posts, cool, your blog is very good.
Your point of view caught my eye and was very interesting. Thanks. I have a question for you.
Thank you for your sharing. I am worried that I lack creative ideas. It is your article that makes me full of hope. Thank you. But, I have a question, can you help me?
Thank you for your sharing. I am worried that I lack creative ideas. It is your article that makes me full of hope. Thank you. But, I have a question, can you help me?
Can you be more specific about the content of your article? After reading it, I still have some doubts. Hope you can help me. https://accounts.binance.com/en-ZA/register?ref=B4EPR6J0
Your article helped me a lot, is there any more related content? Thanks! https://www.binance.info/register?ref=IHJUI7TF
Your point of view caught my eye and was very interesting. Thanks. I have a question for you.
Your article helped me a lot, is there any more related content? Thanks! https://www.binance.info/cs/register?ref=OMM3XK51
I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article.
I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article. https://www.binance.com/register?ref=IHJUI7TF
Can you be more specific about the content of your article? After reading it, I still have some doubts. Hope you can help me. https://www.binance.info/bg/register?ref=V2H9AFPY
Can you be more specific about the content of your article? After reading it, I still have some doubts. Hope you can help me. https://accounts.binance.info/kz/register?ref=K8NFKJBQ
Your point of view caught my eye and was very interesting. Thanks. I have a question for you.
Thanks for sharing. I read many of your blog posts, cool, your blog is very good.
Your point of view caught my eye and was very interesting. Thanks. I have a question for you. https://accounts.binance.com/ES_la/register-person?ref=VDVEQ78S
Can you be more specific about the content of your article? After reading it, I still have some doubts. Hope you can help me.
Your article helped me a lot, is there any more related content? Thanks!
Thanks for sharing. I read many of your blog posts, cool, your blog is very good. https://www.binance.com/register?ref=IHJUI7TF
Your article helped me a lot, is there any more related content? Thanks!
Your point of view caught my eye and was very interesting. Thanks. I have a question for you. https://accounts.binance.info/kz/register-person?ref=K8NFKJBQ
Can you be more specific about the content of your article? After reading it, I still have some doubts. Hope you can help me. https://accounts.binance.info/register-person?ref=IXBIAFVY
Your point of view caught my eye and was very interesting. Thanks. I have a question for you.
BYU 777.com login – Let’s get this show on the road! Ready to see what goodies this casino has to offer. Hopefully some exciting games and juicy bonuses await. byu 777.com login
The Juegos Casino Caliente selection is pretty impressive. They have a ton of different games from different providers. You are bound to find something you like. Explore the games: juegos casino caliente
Need the PHL63 login? Here’s the easy access link! phl63 login. Best of luck!
I really love the interface here. It is very user friendly and the payouts are processed quite quickly. Great experience so far! ph90jl
The VIP perks are actually legit. I feel like a valued member and the bonuses are generous compared to other sites I tried. ph8k8vip
Super easy to deposit and withdraw. The local payment options are a huge plus for me. Definitely sticking with this one. ph89php
Thanks for sharing. I read many of your blog posts, cool, your blog is very good. https://accounts.binance.bh/register/person?ref=GGYHGRE
Thank you for your sharing. I am worried that I lack creative ideas. It is your article that makes me full of hope. Thank you. But, I have a question, can you help me?
Thank you for your sharing. I am worried that I lack creative ideas. It is your article that makes me full of hope. Thank you. But, I have a question, can you help me? https://accounts.binance.com/en-NG/register?ref=YY80CKRN
Thank you for your sharing. I am worried that I lack creative ideas. It is your article that makes me full of hope. Thank you. But, I have a question, can you help me?
I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article. https://www.binance.bh/register?ref=GGYHGRE
Thank you for your sharing. I am worried that I lack creative ideas. It is your article that makes me full of hope. Thank you. But, I have a question, can you help me? https://www.binance.com/register?ref=GGYHGRE
Thanks for sharing. I read many of your blog posts, cool, your blog is very good.
Thank you for your sharing. I am worried that I lack creative ideas. It is your article that makes me full of hope. Thank you. But, I have a question, can you help me?
Thanks for sharing. I read many of your blog posts, cool, your blog is very good.
I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article. https://www.binance.bh/futures/ref?code=MBLCVVZG
Can you be more specific about the content of your article? After reading it, I still have some doubts. Hope you can help me. https://www.binance.com/register?ref=IXBIAFVY
Can you be more specific about the content of your article? After reading it, I still have some doubts. Hope you can help me. https://www.binance.com/register?ref=IXBIAFVY
Your article helped me a lot, is there any more related content? Thanks!
Your article helped me a lot, is there any more related content? Thanks! https://www.binance.com/register?ref=QCGZMHR6
Your point of view caught my eye and was very interesting. Thanks. I have a question for you.
Thanks for sharing. I read many of your blog posts, cool, your blog is very good. https://accounts.binance.bh/register/person?ref=IXBIAFVY
Can you be more specific about the content of your article? After reading it, I still have some doubts. Hope you can help me.
Thank you for your sharing. I am worried that I lack creative ideas. It is your article that makes me full of hope. Thank you. But, I have a question, can you help me?
Your point of view caught my eye and was very interesting. Thanks. I have a question for you.
Can you be more specific about the content of your article? After reading it, I still have some doubts. Hope you can help me. https://www.binance.com/register?ref=QCGZMHR6
Thanks for sharing. I read many of your blog posts, cool, your blog is very good.
I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article.
Your point of view caught my eye and was very interesting. Thanks. I have a question for you.
Can you be more specific about the content of your article? After reading it, I still have some doubts. Hope you can help me.
Your article helped me a lot, is there any more related content? Thanks! https://www.binance.com/register?ref=GGYHGRE
Thank you for your sharing. I am worried that I lack creative ideas. It is your article that makes me full of hope. Thank you. But, I have a question, can you help me? https://accounts.binance.bh/register/person?ref=IHJUI7TF
Your article helped me a lot, is there any more related content? Thanks! https://accounts.binance.bh/es-MX/register?ref=GJY4VW8W
Your point of view caught my eye and was very interesting. Thanks. I have a question for you.
Your article helped me a lot, is there any more related content? Thanks! https://www.binance.com/register?ref=GGYHGRE
Your point of view caught my eye and was very interesting. Thanks. I have a question for you. https://www.binance.bh/register?ref=IXBIAFVY
Thanks for sharing. I read many of your blog posts, cool, your blog is very good.
Your point of view caught my eye and was very interesting. Thanks. I have a question for you.
Thanks for sharing. I read many of your blog posts, cool, your blog is very good. https://www.binance.bh/register?ref=IXBIAFVY
I don’t think the title of your article matches the content lol. Just kidding, mainly because I had some doubts after reading the article.
Thanks for sharing. I read many of your blog posts, cool, your blog is very good. https://www.binance.bh/register?ref=IXBIAFVY
Your point of view caught my eye and was very interesting. Thanks. I have a question for you. https://accounts.binance.bh/register/person?ref=QCGZMHR6
Thanks for sharing. I read many of your blog posts, cool, your blog is very good. https://accounts.binance.bh/register/person?ref=GGYHGRE