- Bullish COMP price prediction for 2023 is $56.38 to $85.20.
- Compound (COMP) price might reach $100 soon.
- Bearish COMP price prediction for 2023 is $23.54.
In this Compound (COMP) price prediction 2023, 2024-2030, we will analyze the price patterns of COMP by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
TABLE OF CONTENTS |
INTRODUCTION |
|
COMPOUND (COMP) PRICE PREDICTION 2023 |
|
| COMPOUND (COMP) PRICE PREDICTION 2024, 2025, 2026-2030 |
| CONCLUSION |
| FAQ |
Compound Current Market Status
| Current Price | $48.16 | 24 – Hour Price Change | 11.89% Up |
| 24 – Hour Trading Volume | $171,908,194 |
| Market Cap | $379,446,721 |
| Circulating Supply | 7,878,375 COMP | All – Time High | $911.20 (On May 12, 2021) |
| All – Time Low | $25.55 (On Jun 10, 2023) |
What is Compound (COMP)
| TICKER | COMP |
| BLOCKCHAIN | Ethereum Blockchain |
| CATEGORY | DeFi (Decentralized Finance) |
| LAUNCHED ON | June 2016 |
| UTILITIES | Governance, tipping system, gas fees & rewards |
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 24H Technicals
(Source: TradingView)
Compound (COMP) Price Prediction 2023
Compound (COMP) ranks 81st on CoinMarketCap in terms of its market capitalization. The overview of the Compound price prediction for 2023 is explained below with a daily time frame.
COMP/USDT Right Angled Descending Wedge Pattern (Source: TradingView)
In the above chart, Compound (COMP) laid out the Right Angle Descending Wedge pattern. A right-angled descending wedge is a bullish reversal pattern. The pattern is an inverted ascending triangle because it is made up of two converging lines with a horizontal line for the resistance and a bearish downward slant for the support.
At the time of analysis, the price of Compound (COMP) was recorded at $48.16. If the pattern trend continues, then the price of COMP might reach the resistance levels of $69.86, and $208.91. If the trend reverses, then the price of COMP may fall to the support of $43.44, and $23.29.
Compound (COMP) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Compound (COMP) in 2023.
COMP/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of Compound (COMP) for 2023.
| Resistance Level 1 | $56.38 |
| Resistance Level 2 | $85.20 |
| Support Level 1 | $35.76 |
| Support Level 2 | $23.54 |
COMP Resistance & Support Levels
Compound (COMP) Price Prediction 2023 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Compound (COMP) are shown in the chart below.
COMP/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current Compound (COMP) market in 2023.
| INDICATOR | PURPOSE | READING | INFERENCE |
| 50-Day Moving Average (50MA) | Nature of the current trend by comparing the average price over 50 days | 50 MA = $42.60Price = $48.51 (50MA < Price) | Bullish/Uptrend |
| Relative Strength Index (RSI) | Magnitude of price change;Analyzing oversold & overbought conditions | 68.26 <30 = Oversold 50-70 = Neutral>70 = Overbought | Neutral |
| Relative Volume (RVOL) | Asset’s trading volume in relation to its recent average volumes | Below cutoff line | Weak volume |
Compound (COMP) Price Prediction 2023 — ADX, RVI
In the below chart, we analyze the strength and volatility of Compound (COMP) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
COMP/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Compound (COMP).
| INDICATOR | PURPOSE | READING | INFERENCE |
| Average Directional Index (ADX) | Strength of the trend momentum | 17.42 | Weak Trend |
| Relative Volatility Index (RVI) | Volatility over a specific period | 46.32 <50 = Low >50 = High | Low volatility |
Comparison of COMP with BTC, ETH
Let us now compare the price movements of Compound (COMP) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs COMP Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of COMP is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of COMP also increases or decreases respectively.
Compound (COMP) Price Prediction 2024, 2025 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Compound (COMP) between 2024, 2025, 2026, 2027, 2028, 2029 and 2030.
| Year | Bullish Price | Bearish Price |
| Compound (COMP) Price Prediction 2024 | $108 | $20 |
| Compound (COMP) Price Prediction 2025 | $120 | $17 |
| Compound (COMP) Price Prediction 2026 | $133 | $15 |
| Compound (COMP) Price Prediction 2027 | $145 | $14 |
| Compound (COMP) Price Prediction 2028 | $158 | $12 |
| Compound (COMP) Price Prediction 2029 | $162 | $11 |
| Compound (COMP) Price Prediction 2030 | $174 | $10 |
Conclusion
If Compound (COMP) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Compound (COMP) price prediction for 2023 is $85.20. Comparatively, if unfavorable sentiment is triggered, the bearish Compound (COMP) price prediction for 2023 is $23.54.
If the market momentum and investors’ sentiment positively elevates, then Compound (COMP) might hit $100. Furthermore, with future upgrades and advancements in the Compound ecosystem, COMP might surpass its current all-time high (ATH) of $911.20 and mark its new ATH.
FAQ
1. What is Compound (COMP)?
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 Compound (COMP)?
Traders can trade Compound (COMP) on the following cryptocurrency exchanges such as Binance, OKX, Deepcoin, Bitrue, and Bybit.
3. Will Compound (COMP) reach a new ATH soon?
With the ongoing developments and upgrades within the Compound platform, Compound (COMP) has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of Compound (COMP)?
Compound (COMP) hit its current all-time high (ATH) of $911.20 on May 12, 2021.
5. What is the lowest price of Compound (COMP)?
According to CoinMarketCap, COMP hit its all-time low (ATL) of $25.55 on Jun 10, 2023.
6. Will Compound (COMP) reach $100?
If Compound (COMP) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $100 soon.
7. What will be Compound (COMP) price by 2024?
Compound (COMP) price is expected to reach $108 by 2024.
8. What will be Compound (COMP) price by 2025?
Compound (COMP) price is expected to reach $120 by 2025.
9. What will be Compound (COMP) price by 2026?
Compound (COMP) price is expected to reach $133 by 2026.
10. What will be Compound (COMP) price by 2027?
Compound (COMP) price is expected to reach $145 by 2027.
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Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
