Compound sees significant decline as DeFi rotation impacts legacy protocols.
What's Happening:
COMP drops 3.46% to $28.73, among worst DeFi performers
Compound V3 continues operating across major chains
Legacy protocol status draws less excitement than newer competitors
TVL remains stable despite token price weakness
Why It Matters: Compound's larger decline reflects the challenge facing DeFi 1.0 protocols - proven security but limited narrative momentum. While the protocol remains battle-tested, capital flows favor newer innovations.
Technical View: $COMP breaking below $29 is technically concerning. Support at $28.30 is critical, with $29.91 as resistance. Elevated volume during decline suggests distribution phase. Watch for stabilization signal.
🎯 Key Levels:
Support: $28.30 | Resistance: $29.91
24h Range: $28.30 - $29.91
💡 Battle-tested security is undervalued until the next hack - Compound's track record matters
What's your take? Drop a 🔥 for bullish, ❄️ for bearish 👇
#Compound #COMP #DeFi #Lending #OGProtocol
Disclaimer: This content is for educational purposes only and should not be considered financial advice. Always do your own research (DYOR) before making any investment decisions.
