Compound (COMP), whose value increased by more than 21% during the previous trading day, earned a spot on CoinMarketCap’s purchasing and selling list. As a result, the cryptocurrency cost $79.46 at the time of publication.
The positive daily performance ultimately caused COMP’s weekly performance to move further into the negative territory, to +52.20%. Along with this, COMP’s monthly performance caught attention because the altcoin’s value was able to increase by 192.92% during the preceding 30 days.
Over the past day, COMP not only outperformed the Dollar but also managed to catch up to the two market leaders, Bitcoin (BTC) and Ethereum (ETH). At the time of publication, COMP was trading higher against BTC and 24.11% against ETH.
With a market valuation of $619,387,547, COMP was the 67th largest cryptocurrency in terms of market capitalization. This put it directly behind Pepe (PEPE) in position 66 and in front of eCash (XEC) in position 68.
Over the past 24 hours, COMP’s value was able to surpass the barrier at $74.77. It then attempted to do the same with the following major resistance level at $78.92 during yesterday’s trading session, but it could only manage to get as high as $78.44 before ending the day’s candle at $76.17.
The value of the altocoin momentarily fell below the recently-flipped $74.77 level earlier in the current trading session. Bulls had, however, given the cryptocurrency’s value a boost to trade once more above the numerous value threshold. This increase also caused COMP’s value to surpass the $78.92 resistance, where it was still trading at the time of publication.
The next three days might see COMP attempt to climb to $88.90 if it is able to close today’s daily candle above $78.92. On the other hand, a daily close below this resistance level might make the cryptocurrency vulnerable to a drop to $74.77. The value of COMP could potentially drop to as little as $69.60 in the coming week due to persistent promotional activity.