Comp at a critical level – Will it see a steep drop to $23?

COMP is at a crucial support level, and recent market activity has been predominantly bearish, with significant selling occurring weekly.

In the last week, COMP has dropped by 12.31%, and by 24.92% over the month. A declining open interest of 1.83% identifies seller dominance.

If COMP breaches its support level, the price could fall further, aligning with a bearish flag pattern and challenging current market confidence.