Compound, a decentralized finance (DeFi) platform, has experienced a 4.54% decline against the US Dollar today, underperforming the overall cryptocurrency market, which saw a 4.24% decrease in total market cap. The COMP token also recorded a 3.85% loss against Bitcoin. Despite the recent downturn, Compound has shown a positive trend in the past month, gaining 62.63% and increasing by 84.29% since a year ago.
However, the current market sentiment for Compound is bullish, with the Fear & Greed index indicating extreme greed at 83. This suggests that investors are optimistic about the cryptocurrency market, but it could also be an indication that the market is overvalued. Key support levels for Compound are at $89.48, $86.47, and $83.19, while resistance levels are at $95.77, $99.05, and $102.06.
Compound's price is expected to rise by 14.77% in the next five days, reaching $105.00 according to our prediction. However, it is essential to monitor market sentiment, key support and resistance levels, and other metrics, as the cryptocurrency markets are unpredictable and even the largest crypto assets display significant price volatility.