The compound crypto is in an aggressive bearish trend in today’s trading session, currently down by 4 per cent. The crypto is also likely to continue with the bearish trend throughout the session and close with a high price loss.
Compound Crypto Price History
Compound crypto has had one of the most aggressive bearish trends in 2022. In June, the crypto has lost 46 per cent of its value. The June losses have also been an extension of a similar aggressive downward trend that started in May, which resulted in prices dropping by 38 per cent.
The year-to-date data shows Compound crypto has lost 83 per cent of its value in 2022. Since hitting its all-time price high of $911 on May 12, 2021, the Compound crypto has been in an aggressive bearish trend that has seen its prices drop by more than 96 per cent of its value.
The above price history data shows that the cryptocurrency has been aggressively pushing downwards for more than a year. Therefore, it is likely that the Compound crypto may still be going down even without the recent cryptocurrency crashes that have affected the entire industry.
Compound Crypto Price Prediction
The compound is down by 4 per cent in today’s trading session, resuming its long-term bearish trend after yesterday’s hiatus that saw a one per cent gain in the markets. Currently trading at $33, the prices have been in an aggressive bearish trend since the year started, dropping from price highs of $245, an 83 per cent decrease.
Using the daily chart below, I expect the prices to continue falling throughout the session. There is a high likelihood that the current bearish trend will see the prices drop below the $25 price level.
My Compound crypto price prediction also expects the current bear market to be long-term. Therefore, it is likely that we will also see it trading below the $20 price level in a few weeks. However, should the prices reverse and trade above the $45 price level, then my long-term bearish trend analysis will be invalidated. It will also mean a likely price reversal.