Compound Price Prediction – Will COMP Price Hit $600 in 2022?

This Compound (COMP) Price Prediction article is based on technical analysis alone. Below, you will see the key metrics that we have taken into account upon coming up with our COMP price analysis and prediction.

There are many cryptocurrencies that rose to a new all-time high during this 2021 bull run. In contrast, some digital assets also faced a price drop. As a result, many crypto traders are worried about whether it is time to hold or sell their digital assets. This is also the same case that crypto traders could experience in COMP. It has lost over 84.5% of its value in the past one year.

Nevertheless, the crypto market is consolidating lately, and many cryptocurrencies are losing their previous profits. Will COMP experience the same price volatility? We’ll find out shortly in this COMP price analysis 2022 article. But first, let’s have a look at what COMP is.

What Is Compound (COMP)?

Compound is said to be a decentralized finance (DeFi) lending protocol that enables users to gain interest on their crypto by depositing them into one of many pools supported by the platform.

Moreover, when a user deposits tokens to a Compound pool, they will get cTokens in return. However, these cTokens indicate the individual’s stake in the pool and can be utilized to redeem the underlying digital currency initially deposited into the pool at any time.

Now that we have an idea about COMP, do you think COMP will be profitable investment in 2022? Join me and let us see the charts in this COMP price prediction.

Compound (COMP) Current Market Status

As of the time of writing this Compound price analysis, COMP trades at $47.77 with a 24-hour trading volume of $135,906,702, according to CoinMarketCap. The price of COMP has decreased by 1.46% in the last 24 hours.

Furthermore, COMP has a current circulating supply of 7,157,746.42 COMP according to CoinMarketCap. Currently, the top cryptocurrency exchanges for COMP are Binance, Kucoin, Kraken, Gemini, Bithumb, FTX, Huobi Global, OKEx, and Mandala Exchange. Now, let’s proceed to the next part of this COMP price analysis for 2022.

Compound (COMP) Price Analysis 2022

Currently, COMP holds the 86th place on CoinMarketCap. But will the latest upgrades, developments, and changes in the COMP blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this COMP price prediction article.

COMP/USDT 1Day Chart Showing Keltner Channel (Source: Tradingview)

Keltner channel is a technical analysis indicator that is used to determine trend directions by measuring the volatility above or below the candlesticks. From the Keltner Channel signals for COMP/USDT, it could be seen that the present gain could continue since the last candlestick is still within the first part of the curve from the top. This shows that the present uptrend in the price of Compound (COMP) will be sustained for some days before any reversal would be expected.

COMP/USDT 1Day Chart Showing Relative Strength Index (Source: Tradingview)

The Relative Strength Index (RSI) measures the relative momentum in the magnitude of recent price changes so as to deduce oversold or overbought assets. The RSI value of COMP/USDT 1day chart is 50.71.  This shows that Compound is showing a strong trend since it is between 50 and 70. This value is triggering a bullish run already since it seems that more buyers are repositioning as the value is moving towards the 50 RSI value which is the strong trend region.

COMP/USDT 1Day Chart Showing 200-MA and 100-MA (Source: Tradingview)

From the 200 days and 100 days moving averages for Compound (COMP), it could be seen that COMP would go bullish in the long-term since the 200-day moving average is above the 100-day moving average. Hence, long-term investors could recover some part of their investments that had been lost in recent weeks due to crypto winter.

Compound (COMP) Price Prediction 2022

The chart below shows that COMP has performed great over the past few days. Moreover, the COMP price has increased by 21.5% in the past 7 days. If this trend continues, COMP might run along with the bulls, overtaking its $61.15 resistance1 level and reaching higher to $493.71 at the resistance10 level, the bullish signal for 2022.

COMP/USDT 1Day Chart Showing the Key Levels (Source: Tradingview)

Conversely, if the investors turn against the crypto, the bears might take over and dethrone COMP from its uptrend position. In simpler terms, the price of COMP might drop to almost $17.16, a bearish signal.

Meanwhile, our long-term COMP price prediction for 2022 is bullish. It has a very low possibility of surpassing its current all-time-high (ATH) at about $911.2. Moreover, it is possible for COMP to reach this level this year.

If this bullish trend continues, COMP will reach $493.71 by the end of 2022. Moreover, the first half of 2022 is going to show rapid growth, up to $61.15. Then the rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $600 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Compound (COMP) Price Prediction 2023

If COMP holds the support level around 200-MA which is the long-term moving average, buyers will then have ample time and stability to forge the next attack mission on the vital level at $1,000, making it not plummet but play consistently.

Compound (COMP) Price Prediction 2024

As per the latest upgrades, developments, COMP price prediction, and new project forecasts of the platform, COMP investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of COMP in the crypto market, and it will be the best investment as the price can spike and reach around $2,000.

Compound (COMP) Price Prediction 2025

In the next three years, COMP prices could rise up to $3,000. More so, reaching this level could not be so difficult for COMP as an additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that COMP has a high possibility of reaching a new ATH soon in the next three years as per the prediction.

Compound (COMP) Price Prediction 2026

If Compound (COMP) ends the year 2025 with a relative strength index value that is above 60, it might reach $5,000 by the end of 2026.

Compound (COMP) Price Prediction 2027

As per the latest upgrades, developments, COMP price prediction, and new project forecasts of the platform, COMP investors could expect many partnerships and integrations around 2027. Moreover, this might boost the price of COMP in the crypto market, and it will be the best investment as the price can spike and reach around $7,000.

Compound (COMP) Price Prediction 2028

In the next six years, COMP prices could rise up to $9,000. More so, reaching this level could not be so difficult for COMP as an additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that COMP has a high possibility of reaching a new ATH soon in the next six years as per the prediction.

Compound (COMP) Price Prediction 2029

As per the latest upgrades, developments, COMP price prediction, and new project forecasts of the platform, COMP investors could expect many partnerships and integrations around 2029. Moreover, this might boost the price of COMP in the crypto market, and it will be the best investment as the price can spike and reach around $12,000.

Compound (COMP) Price Prediction 2030

In the next eight years, COMP prices could rise up to $15,000. More so, reaching this level could not be so difficult for COMP as an additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that COMP has a high possibility of reaching a new ATH soon in the next eight years as per the prediction.

Conclusion

COMP has a bright future ahead of it in 2022. With the ongoing developments happening within the COMP system, as well as in the overall cryptocurrency market, we may see COMP reach new heights.

Bullish COMP price prediction 2022 is $493.71. As said above, it may even reach $600 if investors have decided that COMP is a good investment in 2022, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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