Compound Price Prediction 2023: Can the COMP Price Hit $200?

Key Takeaways:

• The compound price has been rising significantly over the past few days and is about to form new highs for 2023
• The price has surged by more than 135% since the beginning of June, which is expected to trigger a strong upswing in the second half of the year.
• Technicals are in favor of bulls, and hence, bearish interference may certainly only prevail for a short period. 

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Compound Overview

Compound Technical Analysis

Source: Tradingview

• Ever since the price triggered a significant upswing, the trend has been within a rising parallel channel. 
• After failing to break above the upper resistance of the channel, the price is now heading toward the lower support and may do so anytime from now.
• The RSI is following a similar trend and is on track to reach lower support, which may drag the price.
• Besides, MACD is about to trigger a bullish crossover, which indicates that the selling volume is fading, which may further invite the bulls to mount significant buying pressure.

Read More: Aave Price Prediction

Compound Price Prediction for this Week

The compound price maintained a steep upswing throughout the past week, rising from levels around $30, where it had been stuck for a long time. However, after reaching a peak close to $60, the price is experiencing a slight pullback. Although the bulls are trying hard to trigger a rebound, the price is believed to reach the lower support at the earliest. The selling pressure has not waned yet, which may drag the price below $50 in the coming days. Hence, the price is believed to remain slightly bearish for the rest of the week. 

Compound Price Prediction July 2023

The price began the July trade with a minor descending trend but may not be considered bearish as the price usually undergoes a minor correction after a fine upswing. Therefore, the COMP price may continue with a narrow consolidation for a while and accumulate strength to trigger. The price may regain yearly highs above $64 and maintain an elevated trend thereafter. Presently, market sentiments continue to remain bullish, and hence, they may even reach beyond $70 during the first fortnight. By the end of the month, the price may reach close to $75 to $78.

Compound Price Prediction 2023

Compound Price Forecast 2024

The second half of 2023 is expected to be bullish, which may kick-start the 2024 trade on a bullish note. The price could test the higher high beyond $150 to $160 in the first quarter and, with the beginning of the second quarter, experience a minor pullback. The price could drop slightly but sustain itself well above $100. However, by the end of H1, the bulls may regain their control and trigger a fine upswing. The upswing is largely believed to have transformed into a bull run and reached levels beyond $200 in no time. Although reaching the ATH may be tough, it may form yearly highs around $310 to $323.

Compound Price Forecast 2025

The price is believed to maintain an elevated trend for the first half of 2025 and mark highs close to $550 to $600. Although the bears are believed to intervene and slash the prices significantly, the bulls may hold the rally above the support levels again. The trend is believed to rise, mark a new ATH of around $1000 during the third quarter of 2025, and further experience a notable pullback. The price may close the yearly trade with a decent consolation around $750 to $800, which may intensify further. 

Additional Read: Solana Price Prediction

Compound Price Forecast 2026

As mentioned above, after a giant price action, the end of the 2025 trade could be on a bearish note. Hence, the prices are expected to remain consolidated since the beginning of the year in 2026 and further maintain a decent descending trend thereafter. The trend is believed to transform into a bear market, where prices are expected to drop more than 50% from their highs. Therefore, the COMP price could maintain a steep descending trend until the end of the year and trade below $450 to $500.

Compound Price Forecast 2030-2050

The current price trend appears to be largely bearish and consolidated. But if we look at a long-term projection, the crypto does possess a significant upswing. Therefore, there is no doubt, they undergo a massive price drain, but in the long term, the trend remains bullish. Hence, by 2030, the price is believed to reach beyond $1200 and continue moving high to reach higher targets by 2050.

Compound Price History

What Influences the Price of Compound?

The price of Compound or any other crypto is influenced mainly by demand and supply within the market. With a rise in demand and a drop in supply, the price rises, and vice versa. Besides, any major event like the recent one when the largest investment giant, BlackRock, entered the crypto space, could offer a notable boost to the price. Besides, if regulatory concerns hover over the token or the crypto space, the COMP price is expected to drop notably. 

Should You Invest in Compound?

During the bull run of 2021, the COMP price has manifested extreme strength and surged high enough almost to hit a 4-digit figure. Now that the bearish pressure has increased, the token sustains above the support, manifesting a huge possibility of a bullish breakdown. Therefore, with deep research and close price analysis, investing in a Compound could be a good option.

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