Prominent crypto trader Ali Martinez predicts a bearish trend for Compound (COMP) based on a pattern emerging in its price. COMP is currently forming a "head and shoulders" pattern, indicating a shift from a bullish to a bearish trend. Martinez's chart suggests that COMP could experience a decline of 37% and potentially fall to $49.07. The global cryptocurrency market is experiencing a cooldown due to a decline in the US stock market, causing fear among traders and impacting sell-offs in various investment instruments. COMP has been underperforming for most of last year but recently saw a rise to above $100 before experiencing a decline and entering consolidation. The altcoin's values appear to be influenced by events like macroeconomic updates and geopolitics shifts.



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