COMP Possible Playout Chart
The movement of Compound presents an interesting scenario, as there are indications of a potential bounce and a move towards its resistance area at $46.25. Currently, Comp is being traded at $42.72. If the target increase from its current price is achieved, it could potentially result in a profit of 8.36% for this week. Additionally, Compound is actively expanding its presence on the BASE blockchain, which is owned by Coinbase. In the month of August, the development and integration of Compound into the BASE network have offered an appealing initial APY. However, it's worth noting that Compound has undergone a correction of more than 40% this month, leading to a relatively lower price and an increased risk-to-reward ratio.
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