Compound Price Prediction 2023 2030 Is COMP a Good Investment?

However, the cryptocurrency market has been locked in a bearish trend for the past few weeks, and several cryptocurrencies have dropped drastically from their all-time highs. COMP is one of the cryptocurrencies to suffer from the current bearish cycle. COMP is currently trading at $340 per coin, representing a 200% increase in price year-to-date. This is still a huge return on investment, considering we are just halfway into 2021. The start of 2023 saw another dip to the $30 area which was followed by a surge to $50.

As you can see, COMP now needs to make another high to complete the rounded bottom formation identified in pattern 1. The number of active addresses peaked in mid-November as prices remained steady. We shall be not liable for any inaccuracies or delays in our content, or for any actions taken by you in reliance thereon. byteball gbyte Republication or redistribution of the content, including framing or similar means, is prohibited without our prior written consent. Torsten Hartmann has been an editor in the CaptainAltcoin team since August 2017. He gained professional experience as a PR for a local political party before moving to journalism.

In the remaining half of 2022, the price fluctuated between $30 and $60. Compound provides an efficient way for users to earn interest on their cryptocurrencies and borrow funds using their existing holdings as collateral, with no intermediaries. It has gained significant popularity within the DeFi space and has contributed to the continued growth of decentralized lending and borrowing. However, by this time, COMP should be able to make a move in close to 98 days — the distance from M to B.

The Compound protocol is designed to ensure that risk is limited by a liquidation function that keeps the amount a user borrows below their borrowing capacity. Compound is one of numerous interest-rate protocols that have emerged with the growth of decentralised finance (DeFi) applications on blockchains. With the ongoing developments and upgrades within the Compound platform, Compound (COMP) has a high possibility of reaching its ATH soon.

Compound Price in 2020-2021

When the price of an asset moves above the upper band, it may indicate that the asset is overbought and a sell signal. When the price falls below the lower band, it may indicate that the asset is oversold and a buy signal. It provides them with global expansion, a wide network of users and dApps (decentralized applications), and continual developments and upgrades.

Over the longer term, CoinPriceForecast expected the token to grow to $140.11 by December 2030. We also gather additional information from different sources to ensure we cover all necessary data or events. From a total of 17 technical indicators, 6 calls to buy, and 8 to sell, the prediction sentiment short-term is bearish based on technical price analysis. The first major uptrend resistance for COMP is at the $61.91 level, it needs to close above that level to continue to move higher, and bottom support sits at $54.51. So if the price falls below $54.51, we may see the price go even lower. On the other hand, if it will be able to close above the $61.91 level, it can go up to the next resistance level at $84.37.

Compound Price Prediction 2023–2033

That is, when the price of  BTC and ETH increases or decreases, the price of COMP also increases or decreases respectively. According to the data on the above chart, the ADX of COMP lies in the range of 67.04 pointing out an extremely strong trend. Significantly, traders often use the RSI to identify potential trend reversals or to confirm the trend’s direction. For instance, if an asset is in an uptrend and the RSI reaches an overbought reading of 70, it may suggest that the asset is due for a pullback or correction. Conversely, if an asset is in a downtrend and the RSI is in an oversold reading of 30, it may suggest a potential reversal.

The maximum price ever recorded in our base for one COMP is $848.45, it was 2 Years and 2 Months ago, currently price is down by -93.37% from that high. Based on our Compound forecast, the coin might touch $235 by the end of this year, with a 545% hike from the current price. At the same time, the minimum and average prices are estimated to be around $163.36 and $199.27, respectively.

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The Compound is an algorithmic, autonomous interest rate protocol built for developers to unlock a universe of open financial applications. Cryptocurrencies like Compounds have gradually pervaded the mainstream consciousness and gained traction. Compound (COMP) is an ERC-20 asset that empowers community governance of the Compound protocol. Once connected, you will see on the dashboard all available crypto available for borrowing and supplying. Keep in mind that you should already have some of the same tokens that you wish to lend or borrow.

• Overall, the TVL is down 18% from its 2021 all-time high of $12.45B.
• The long term sentiment, however, remains bullish and COMP could hit $57.27 in 2024.
• For some coins with little to no data points and inexistent historical data the model by default will show a positive price prediction.
• The significant upgrades in the Compound ecosystem might persuade the entry of an increased number of investors.

If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any trading decision. Keep in mind that past performance is no guarantee of future returns. At the same time, there are assumptions that the coin may have an average price of $81.29. Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors.

Compound Historical Market Sentiments 2020 – 2022

It lets users lend and borrow cryptocurrencies without the need for intermediaries such as banks. Hence, the distance from M2 to B2 can be anywhere in the range presented in data set 2. If we draw a forecast line from here, we see that the new high is lower than A2. Even if the current price of COMP tokens is trading low, we’ve seen low MVRV levels lead to price surges in the past.

Within each pool, lenders earn half the distribution and borrowers earn the other half. TheNewsCrypto is an online media publication that helps to educate readers about crypto news, exchanges, and markets in the crypto and blockchain industry. From the above chart, we can interpret that the price action of COMP is similar to that of BTC and ETH.

What is Compound?

If we use the bars pattern, the next pattern or the new Pattern 2 should be like Pattern 1, using historical data. Do note that the B1-M1-A1 curve in pattern one should trace a similar path as B-M-A for the pattern theory to hold. Let us mark the lows from C to B and C to B1 as N and N1, respectively. This will help us calculate the low to high range and allow us to find the location of A1. For the sake of understanding, let us divide the chart into two patterns and assign identifiers to the highs and lows. However, post the lower high, COMP makes another mini swing-high pattern where it makes three lower highs.

As all cryptos are showing bearish growth, the Compound’s performance has been also affected negatively. There are strong possibilities that the next bull run can help Compound to recover in 2023. To incentivize this activity, Compound uses another cryptocurrency native to its service, called COMP. Every time a user interacts with a Compound market (by borrowing, withdrawing or repaying the asset), they are rewarded with additional COMP tokens.

The team behind the project, Compound Labs, moved in that direction by establishing Compound Treasury in the same month. It is a company that seeks to offer institutional investors all benefits of Compound without the need to engage with the protocol directly. For instance, in February 2021, when COMP holders were voting to increase the collateral factor of the WBTC market, the COMP price was pushed from $382 to $555.

Compound (COMP) hit its current all-time high (ATH) of $911.20 on May 12, 2021. Let us now compare the price movements of Compound (COMP) with that of Bitcoin (BTC), and Ethereum (ETH). The highest price ever recorded for COMP was $848.45, which we consider to be a key level for the price of Tezos to potentially return to in the next bull run. However, our algorithmic prediction system suggests that the price may exceed this level and reach as high as $2,596 within the next ten years. Bollinger Bands are often used by traders to identify potential entry and exit points for a trade.