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Compound (COMP) Price Prediction 2022 – Will COMP Hit $300 Soon?

Compound (COMP) Price Prediction 2022 – Will COMP Hit $300 Soon?

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  • The bullish COMP price forecast is $56.93 to $178.62.
  • The COMP price will also rise to $300 soon.
  • COMP’s bearish market price forecast for 2022 is $27.09.

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

Combined current market state

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

Additionally, COMP has 7,267,152 rounds of COMP. Currently, COMP trades on cryptocurrency exchanges such as Binance, OKX, Bybit, Mandala Exchange and Bitget.

What is a compound (COMP)?

Compound (COMP) is an ERC-20 resource that enables community management of the Compound protocol. COMP token holders and their participants discuss, propose and vote on any protocol changes.

Its purpose is to encourage a decentralized computer network to run traditional money markets. Compound, one of a growing number of decentralized finance (DeFi) protocols, uses multiple crypto-assets to provide this service, enabling borrowing and lending without the need for a financial intermediary such as a bank.

Compound (COMP) Price forecast 2022

Compound is currently ranked 97th on CoinGecko. COMP price prediction 2022 is explained below with daily time frame.

COMP/USDT Horizontal Channel Model (Source: Trading view))

A horizontal channel or lateral orientation looks like a rectangle pattern. It consists of at least four connection points. This is because it needs at least two low values ​​to connect, plus two high values. The buying and selling pressures are the same, and the prevailing direction of the price movement 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 the horizontal channel has the same ups and downs.

Currently, COMP is in the range of $56.74. If the pattern continues, COMP price may reach the $62.72 and $90.53 resistance levels. If the trend reverses, COMP’s price could drop to $43.76.

Compound (COMP) Support and resistance level

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

COMP/USDT support and resistance level (Source: TradingView)

From the daily time frame above, it is clear that 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 risen over the past month. If this trend continues, COMP may go along with the bulls that will break the resistance level at $178.62.

Thus, if investors turn against the crypto, the price of COMP may drop to near $27.09, which is a bearish signal.

Compound Price Prediction 2022 — RVOL, MA and RSI

The relative volume (RVOL) of COMP is shown in the table below. It is an indication of how the current trading volume has changed over a period of time from previous trader volume. Currently, COMP’s RVOL is above the boundary line, indicating stronger participants in the current trend.

Additionally, the moving average (MA) of COMP is shown in the chart above. Currently, COMP is in a bearish mode. It is worth noting that the COMP price is at 50 MA (short term), so it is fully in an uptrend. Therefore, it is possible for the COMP trend to reverse at any time.

Meanwhile, COMP’s Relative Strength Index (RSI) is at 54.29. This means that COMP is neither in overbought nor oversold condition. However, this means that the reversal of COMP prices may happen in the next few days. So traders should trade carefully.

Compound Price forecast 2022 — ADX, RVI

Now let’s look at the compound’s Average Directional Index (ADX). It helps measure the overall strength of the trend. The indicator is the average of the values ​​of the expanding Price Category. This system tries to measure the strength of price movement in positive and negative direction using DMI indicators with ADX.

The chart above represents the ADX of the compound. Currently, COMP is in the 15.99 area, so it shows a weak trend.

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

Comparison of COMP to BTC, ETH

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

BTC vs ETH vs COMP price comparison (Source: TradingView)

From the chart above we can identify the trend of ETH, BTC and COMP is moving at the same level with the trend. This shows that when the price of BTC rises or falls, the price of ETH and COMP also rises or falls accordingly.

Combination (COMP) price forecast 2023

If bearish price action slows completely and the trend reverses, Compound (COMP) could likely reach $420 by 2023.

Combination (COMP) price forecast 2024

With several updates online, Compound (COMP) may move to the upside. If the coin catches the attention of large investors, COMP could rise to $510 by 2024.

Combination (COMP) price forecast 2025

If Compound (COMP) maintains major resistance levels and continues to be recognized as a better investment option among investors over the next three years, COMP would rise to $590.

Combination (COMP) price forecast 2026

If Compound (COMP) maintains major resistance levels and continues to be recognized as a better investment option by investors over the next four years, COMP would rise to $650.

Combination (COMP) price forecast 2027

If Compound (COMP) maintains major resistance levels and continues to be recognized as a better investment option by investors over the next five years, COMP would rise to $720.

Combination (COMP) price forecast 2028

If Compound (COMP) maintains a strong position as a better investment option for the next six years, it could see significant price rallies. Thus, by 2028 COMP would reach $900.

Combination (COMP) price forecast 2029

If investors rally and continue to bet on Compound (COMP), it would see major spikes. COMP may rise to $990 by 2029.

Combination (COMP) price forecast 2030

With the progress of the Compound ecosystem, the crypto community may continue to invest in Compound (COMP) for the next 8 years and cause significant price rallies for the token. Thus, Compound (COMP) may rise to $0.30 by 2030.

Conclusion

With the continuous improvement of the Compound network, it can be said that 2022 will be a good year for COMP. Hence, Compound’s rising price forecast in 2022 is $178.62. On the other hand, the bearish COMP price forecast for 2022 is $27.09.

Moreover, with the developments and upgrades in the COMP ecosystem, COMP’s performance would help it reach its current all-time high (ATH) of $910.54 very soon. But it could also reach $300 if investors believe COMP is a good investment in 2022.

FAQ

1. What is a compound?

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

2. Where can you buy COMP?

COMP is listed on many crypto exchanges including Binance, OKX, Bybit, Mandala Exchange and Bitget.

3. Will COMP hit a new ATH soon?

Due to the continuous development and updates of the COMP platform, it has a high chance to reach ATH soon.

4. What is the compound’s all-time high (ATH) at the moment?

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

5. Is COMP a good investment in 2022?

Compound (COMP) seems to be one of the most rising cryptocurrencies this year. Based on COMP’s performance in recent months, COMP is a good investment in 2022.

6. Can Compound (COMP) reach $300?

Compound (COMP) is one of the active cryptos that continues to rise. Finally, if this uptrend continues, Compound (COMP) will soon reach $400.

7. What will the COMP price be by 2023?

The price of the compound (COMP) is expected to reach $420 by 2023.

8. What will the COMP price be by 2024?

The price of the compound (COMP) is expected to reach $510 by 2024.

9. What will be the COMP price by 2025?

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

10. What will the COMP price be by 2026?

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

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

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