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Over the past day of trading, Compound (COMP), earned itself a spot on CoinMarketCap’s trading list after its price rose by more than 21%. As a result, the crypto was worth $79.46 at press time.
The positive daily performance ended up pushing COMP’s weekly performance further into the green to +52.20%. In addition to this, COMP’s monthly performance was also turning heads as the altcoin’s price was able to climb by 192.92% over the past 30 days.
Not only did COMP outperform the Dollar, it was also able to gain against the 2 market leaders Bitcoin (BTC) and Ethereum (ETH) over the past 24 hours. At press time, COMP was up 24.08% against BTC and 24.11% against ETH.
COMP’s market cap of $619,387,547 meant that it was ranked as the 67th largest crypto in terms of market capitalization. This placed it right behind Pepe (PEPE) in the 66th position and in front of eCash (XEC) in the 68th spot.
COMP’s price was able to break above the resistance at $74.77 over the past 24 hours. It then tried to do the same with the next major resistance level at $78.92 during yesterday’s trading session, but was only able to reach a high of $78.44 before closing yesterday’s daily candle at $76.17.
Earlier in today’s trading session, the altocoin’s price had briefly dropped below the recently-flipped $74.77 mark. Bulls had, however, given the crypto’s price a boost to trade back above the significant price point. This boost also resulted in COMP’s price overcoming the $78.92 resistance as well, where it continued to trade at press time.
If COMP is able to close today’s daily candle above $78.92, then it may attempt to climb to $88.90 in the next few days. Conversely, a daily close below this resistance level may put the crypto’s price at risk of falling to $74.77. Persistent sell volume may even drag COMP’s price to as low as $69.60 in the following week.
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