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- 1 Compound Crypto price showcasing bullishness on the daily charts hinting at a pullback rally.
- 2 COMP crypto is trading above the key moving averages.
Compound crypto (USD: COMP) price is entering an uptrend, trading near the resistance level of $50.63. Buyers are aiming to break through the obstacle and achieve a new high. COMP crypto has soared more than 6.37% last month. The price is trading above the key moving averages.
The price action shows that COMP crypto has broken above the multiple tops.
At press time, Compound crypto was trading at $49.08 with an intraday loss of 1.70%, breaking below the 200-day EMA, and showing bearishness on the charts. Moreover, the intraday trading volume is 89.786 Million. The market cap of Compound crypto is $385.691 Billion.
The oscillators are currently indicating that the price is overbought. Investors are optimistic regarding the upcoming week’s performance.
Compound crypto price saw a 6.70% increase over the past week with a modest gain of 6.37% over the past month. However, the crypto has not performed well over the 3 month period, as it fell by about 18.62% over the past three months, and gained by 19.55% over the past six months. The crypto’s performance throughout the year has been impressive, with a year-to-date incline of about 56.27%.
Technical Analysis of Compound Crypto Price For 2023
Compound (USD: COMP) crypto price rose steadily, climbing 6.37% last month. Currently, COMP crypto is trading at $49.20 and has been trying to hold on to this level after an unexpected surge in price.
If it can stay at this level, the Compound price could continue to go up and reach the first and second targets of $44.81 and $40.00, respectively. However, if COMP price falls, it might hit the closest support levels of $50.70 and $55.51.
Currently, Compound crypto (USD: COMP) is trading above the 50 and 200-day simple moving averages (SMAs), which are supporting the price momentum.
However, if buying volume adds up, then the price might support bullish momentum by making higher highs and new highs. Hence, the Compound price is expected to move upwards giving bullish views over the daily time frame chart.
The current value of RSI is 67.46 points. The 14 SMA is above the median line at 60.78 points which suggests that the Compound crypto is bullish.
The MACD line at 1.52 and the signal line at 1.02 are above the zero line. A bullish crossover is observed in the MACD which highlights the strength in the momentum of the COMP crypto price.
Compound crypto (USD: COMP) technical oscillators are bullish. The MACD, RSI, and EMAs are emphasizing positive signs and imply that the uptrend may continue in the COMP crypto price. Price action suggests that the investors and traders are bullish on the 1-day time frame. The price action reflects a bullish perspective.
Technical Levels For Short-Term
Support Levels: $50.70 and $55.51
Resistance Levels: $44.81 and $40.00
COMP Price Forecast 2024
As per the price action and previous price fluctuations on the charts, COMP crypto price might go as low as $51.52, while the average might reach $170.76. The maximum value could reach $290.00, and the potential return on investment from 2023 would be 222.01%.
COMP Price Forecast 2025
As per the price action the lowest COMP crypto could fall to is $101.00, while the average might reach $170.75. The maximum estimate is $240.50, and the potential return on investment from 2023 would be 167.04%.
COMP Price Forecast 2026
As per the price action and previous price fluctuations on the charts, the minimum COMP crypto price might be around $75.00, while the average might reach $98.00. The maximum estimate is $120.99, and the potential return on investment from 2023 would be 34.34%.
COMP Price Forecast 2027
As per the price action and previous price fluctuations on the charts, the minimum COMP crypto price might be around $80.50, while the average might reach $140.50. The maximum estimate is $200.50, and the potential return on investment from 2023 would be 122.63%.
COMP Price Forecast 2028
As per the price action and previous price fluctuations on the charts, the minimum COMP crypto price might be around $180.99, while the average might reach $192.60. The maximum could rise as high as $204.20, and the potential return on investment from 2023 would be 126.74%.
COMP Price Forecast 2029
As per the price action and previous price fluctuations on the charts, the minimum COMP crypto price might be around $198.10, while the average might reach $286.94. The maximum value could go up to $375.78, and the potential return on investment from 2023 would be around 317.26%.
COMP Price Forecast 2030
As per the price action and previous price fluctuations on the charts, the minimum COMP Crypto price might be around $210.66, while the average might reach $235.55. The maximum value might be $260.44, and the potential return on investment from 2023 would be 189.18%.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
