- Compound (COMP) secures position on CoinMarketCap’s trading list.
- COMP’s price surges over 21% in the last 24 hours.
- COMP registers gains against Bitcoin and Ethereum in the market.
Compound (COMP) has recently secured a position on CoinMarketCap’s esteemed trading list, following an impressive surge of over 21% in its price within the last 24 hours. Consequently, the cryptocurrency is currently valued at $79.46 as of the time of this report.
The favorable daily performance of COMP resulted in a significant boost to its weekly performance, which now stands at an impressive +52.20%. Moreover, the altcoin’s monthly performance has garnered considerable attention, as its price has surged by an impressive 192.92% over the past 30 days.
In addition to surpassing the Dollar, COMP exhibited remarkable performance by registering gains against the two dominant players in the market, Bitcoin (BTC) and Ethereum (ETH), within the last 24 hours. At the time of reporting, COMP demonstrated an impressive surge of 24.08% against BTC and an equally notable increase of 24.11% against ETH.
With a market capitalization of $619,387,547, COMP secured its position as the 67th largest cryptocurrency in the market. It closely trailed behind Pepe (PEPE) at the 66th spot while surpassing eCash (XEC) at the 68th.
COMP’s price surpassed the resistance level of $74.77 within the last 24 hours. It attempted to breach the subsequent significant resistance level at $78.92 during the previous trading session but could only achieve a peak of $78.44 before concluding the day’s trading at $76.17.
During the initial part of today’s trading session, the price of the altcoin briefly dipped below the recently established support level of $74.77. However, bullish market participants stepped in and propelled the cryptocurrency’s price back above this crucial level. This upward momentum also enabled COMP’s price to surpass the resistance at $78.92, where it continued to trade at the time of writing.
Should COMP surpass the $78.92 mark by the end of today’s trading session, it could potentially target a rise towards $88.90 within the upcoming days. Conversely, a daily close below this crucial resistance level might expose the cryptocurrency to a downside risk, potentially leading to a decline towards $74.77. In the event of sustained selling pressure, COMP’s price could drop as low as $69.60 in the subsequent week.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
