Compound (COMP) is currently trading at $25.88, reflecting a 24-hour change of -2.59%. The daily range has been relatively tight at 1.29%, with a high of $27.15 and a low of $25.86, indicating limited volatility in the short term.

The trading volume stands at 13,517,675, equating to a volume-to-market cap ratio of 5.40%, suggesting moderate interest from traders. Moving averages indicate a bearish trend with the 8 SMA at $26.50, down 2.34%, and the longer-term 144 SMA at $25.69 showing a slight uptick of 0.75%, which may indicate a potential support level.

Momentum indicators are currently showing weakness, as the 1-hour RSI is at an extreme low of 9, suggesting oversold conditions. Conversely, the 7-day RSI at 56 indicates that the asset is still within a neutral range, but the recent 14-day price change of -11.18% signals a downtrend that cannot be ignored.

The longer-term perspective is concerning, with a 30-day price change of -23.40%, which highlights significant bearish momentum. COMP’s all-time high of $910.54 remains a distant target, with the current price well below the historical average, indicating that it may still be in a corrective phase.

Given the current bearish sentiment reflected in both moving averages and price changes, along with weak momentum indicators, a cautious approach is advised. The market shows signs of oversold conditions in the very short term, but the overall trend is downwards.

Recommendation: Hold. The current price action suggests further potential downside, but a recovery could be imminent if the price stabilizes above the 144 SMA. Monitoring for a bullish reversal signal may provide a more favorable entry point.