Compound (COMP) has experienced a bearish trend recently, with a -3.62% drop against the US Dollar today and a -4.13% loss against Bitcoin. The cryptocurrency's price is currently trading at $39.44, and our prediction for Sep 30, 2023, is $46.34, representing a 14.82% increase in the next five days. However, the overall market sentiment remains bearish, with 24 indicators signaling a negative outlook.
In the last 30 days, Compound has lost -5.76% and is down -35.64% since one year ago. The Fear & Greed index is currently at 46 (Fear), indicating a negative outlook on the market. Key support levels for Compound are $39.38, $38.91, and $38.04, while resistance levels are $40.71, $41.58, and $42.05.
Despite the bearish sentiment, Compound is trading above the 50-day and 200-day Simple Moving Averages, which are bullish signals. Investors should monitor market sentiment, key support and resistance levels, and other metrics to make informed decisions. However, the unpredictable nature of the cryptocurrency market should be taken into account when considering long-term price predictions.