Compound Consolidates On the Daily

Written By Guest User
Compound daily candle chart, approximately 3:20pm ET, 10/29/21.

Compound daily candle chart, approximately 3:20pm ET, 10/29/21.

Compound is consolidating strongly on the daily chart. Compound is a strong contender in the DeFi lending sphere. Momentum remains neutral and so does the MFI currently. However, support in this range seems fairly strong.

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The ratio of COMP to BTC is also nearing historic lows as well. This is important to note as BTC dominance slowly dips and altcoins and ETH start to regain dominance of the market. The overall cryptocurrency market cap is just below $2.65 trillion, while the overall volume has dipped to $137 billion. BTC dominance is 44.2% and ETH dominance is 19.6%.

Guest User
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