COMP, the native token of DeFi lending protocol Compound Finance, has drawn much attention following its positive price performance in the last day. According to data by CoinMarketCap, COMP has risen by 11.03% in the 24 hours, emerging as the top daily gainer of the market.
This price rise is quite significant, as COMP recorded some price drops in the last few days, which may have prompted concerns for its numerous investors after the token’s remarkable, bullish form in recent weeks.
COMP To Break Key Resistance Level?
In the third week of June, COMP embarked on a stunning bullish run which saw the DeFi token gain over 125% to trade as high as $69.15 as of July 4.
Related Reading: Compound (COMP) Token Rallies Over 100% After CEO Quits – Details
However, after attaining this price level, COMP came under significant selling pressure, losing over 9.63% of its market value in the last week before experiencing its recent price boost today.
Looking at its 4-Hour Chart, its Relative
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