Compound (COMP) Price Prediction — Will COMP Hit $300 Soon?

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Compound (COMP) Price Prediction — Will COMP Hit $300 Soon?

  • Bullish COMP price prediction is $56.93 to $178.62.
  • The COMP price will also reach $300 soon.
  • COMP bearish market price prediction for 2022 is $27.09.

In Compound’s (COMP) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and much other information about COMP to analyze the future movement of the cryptocurrency. 

Compound Current Market Status

According to CoinGecko, the price of COMP is $56.74 with a 24-hour trading volume of $85,378,234 at the time of writing. However, COMP has increased nearly 5.47% in the last 24 hours.

Moreover, COMP has a circulating supply of 7,267,152 COMP. Currently, COMP trades in cryptocurrency exchanges such as Binance, OKX, Bybit, Mandala Exchange, and Bitget.

What is Compound (COMP)?

Compound (COMP) is an ERC-20 asset that allows for community governance of the Compound protocol. COMP token holders and their participants debate, propose, and vote on all protocol changes.

It aims to encourage a distributed network of computers to run a traditional money market. Compound, one of a growing number of decentralized finance (DeFi) protocols, uses multiple crypto assets to provide this service, allowing lending and borrowing without the need for a financial intermediary such as a bank.

Compound (COMP) Price Prediction 2022

Compound holds the 97th position on CoinGecko right now. COMP price prediction 2022 is explained below with a daily time frame.


COMP/USDT Horizontal Channel Pattern (Source: Tradingview)

A horizontal channel or sideways trend has the appearance of a rectangle pattern. It consists of at least four contact points. This is because it needs at least two lows to connect, as well as two highs. Buying and selling pressure is equal, and the prevailing direction of price action is sideways. Horizontal channels provide a clear and systematic way to trade by providing buy and sell points. When the price hits the top of the channel, sell your existing long position or take a short position. The difference between the other two is that a horizontal channel is characterized as having equal highs and lows. 

Currently, COMP is in the range of $56.74. If the pattern continues, the price of COMP might reach the resistance level of $62.72 and $90.53. If the trend reverses, then the price of COMP may fall to $43.76.

Compound (COMP) Support and Resistance Level

The below chart shows the support and resistance level of COMP.

    COMP/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frame, it is clear the following are the resistance and support levels of COMP.

Resistance Level 1  $56.93
Resistance Level 2 $96.93
Resistance Level 3 $178.62
Support Level  $27.09
COMP/USDT Support and Resistance Level

The charts show that COMP has performed a bullish trend over the past month. If this trend continues, COMP might run along with the bulls overtaking its resistance level at $178.62.

Accordingly, if the investors turn against the crypto, the price of the COMP might plummet to almost $27.09, a bearish signal.

Compound Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of COMP is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of COMP lies above the cutoff line, indicating stronger participants in the current trend.

COMP/USDT RVOL, MA, RSI (Source: TradingView)

More so, the COMP’s Moving Average (MA) is shown in the chart above. Currently, COMP is in a bearish state. Notably, the COMP price lies on 50 MA (short-term), so it is completely in an upward trend. Therefore, there is a possibility of a reversal trend of COMP at any time.

Meanwhile, the relative strength index (RSI) of the COMP is at level 54.29. This means that COMP is in a neither overbought nor oversold state. However, this means a major price reversal of COMP may occur in the upcoming days. So, traders need to trade carefully. 

Compound Price Prediction 2022 — ADX, RVI

Let us now look at Compound’s Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

COMP/USDT ADX, RVI (Source: TradingView)

The above chart represents the ADX of Compound. Currently, COMP lies in the range of 15.99, so it indicates a weak trend. 

From the above chart, the Relative Volatility Index (RVI) of COMP. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of COMP lies above the 50 levels, indicating that the direction of volatility is high. In fact, COMP’s RSI is at 54.29 level thus confirming a potential buy signal.

Comparison of COMP with BTC, ETH

The below chart shows the price comparison between Bitcoin, Ethereum, and Compound.

BTC Vs ETH Vs COMP Price Comparison (Source: TradingView)

From the above chart, we can identify the trend of the ETH, BTC, and COMP is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and COMP also increases or decreases respectively.

Compound (COMP)  Price Prediction 2023

If the declining price action completely slows down in momentum and the trend reverses,  Compound (COMP) might probably attain $420 by 2023.

Compound (COMP)  Price Prediction 2024

With several upgrades in the network, Compound (COMP)  might enter a bullish trajectory. If the coin grabs the attention of major investors, COMP might rally to hit $510 by 2024. 

Compound (COMP)  Price Prediction 2025

If Compound (COMP)  sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 3 years, COMP would rally to hit $590.  

Compound (COMP)  Price Prediction 2026

If Compound (COMP)  sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 4 years, COMP would rally to hit $650. 

Compound (COMP)  Price Prediction 2027

If Compound (COMP)  sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 5 years, COMP would rally to hit $720. 

Compound (COMP)  Price Prediction 2028

If Compound (COMP)  holds up a strong stance as a better investment option for the next 6 years, it might witness significant price rallies. Thus, by 2028, COMP would hit $900.

Compound (COMP)  Price Prediction 2029

If investors flock in and continue to place their bets on Compound (COMP) , it would witness major spikes. COMP might hit $990 by 2029.

Compound (COMP)  Price Prediction 2030

With greater advancements in the Compound ecosystem, the crypto community might continue to invest in Compound (COMP)  for the next 8 years and drive significant price rallies for the token. Hence, Compound (COMP)  might hit $0.30 by 2030.

Conclusion

With continuous improvements in the Compound network, we can say that 2022 is a good year for COMP. For this reason, the bullish price prediction of Compound in 2022 is $178.62. On the other hand,  the bearish COMP price prediction for 2022 is $27.09.

Furthermore, with the advancements and upgrades on the COMP ecosystem, the performance of COMP would help to reach above its current all-time high (ATH) $910.54 very soon. But, it might also reach $300 if the investors believe that COMP is a good investment in 2022.

FAQ

1. What is Compound?

Compound (COMP) is a DeFi lending protocol that allows users to earn interest by depositing their cryptocurrencies in one of the many pools supported by the platform.

2. Where can you purchase COMP?

COMP has listed on many crypto exchanges which include Binance, OKX, Bybit, Mandala Exchange, and Bitget.

3. Will COMP reach a new ATH soon?

With the ongoing developments and upgrades within the COMP platform, it has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of Compound?

On May 12, 2021, COMP reached its new all-time high (ATH) of $910.54.

5. Is COMP a good investment in 2022?

Compound (COMP) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of COMP in the past few months, COMP is considered a good investment in 2022.

6. Can Compound (COMP) reach $300?

Compound (COMP) is one of the active cryptos that continues to maintain its Bullish state. Eventually, if this bullish trend continues then Compound (COMP) will hit $300 soon.

7. What will be the COMP price by 2023?

Compound (COMP) price is expected to reach $420 by 2023.

8. What will be the COMP price by 2024?

Compound (COMP) price is expected to reach $510 by 2024.

9. What will be the COMP price by 2025?

Compound (COMP) price is expected to reach $590 by 2025.

10. What will be the COMP price by 2026?

Compound (COMP) price is expected to reach $650 by 2026.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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