Compound is Predicted to Reach $64.26 By Aug 19, 2023

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

• Compound is up 3.16% today against the US Dollar
• COMP/BTC increased by 2.72% today
• COMP/ETH increased by 3.00% today
• Compound is currently trading 13.19% below our prediction on Aug 19, 2023
• Compound dropped -25.58% in the last month and is down -11.37% since 1 year ago

COMP price is expected to rise by 15.01% in the next 5 days according to our Compound price prediction

Compound price today is trading at $ 55.79 after gaining 3.16% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 1.35% in the same time period. COMP performed well against BTC today and recorded a 2.72% gain against the world’s largest cryptocurrency.

According to our Compound price prediction, COMP is expected to reach a price of $ 64.26 by Aug 19, 2023. This would represent a 15.01% price increase for COMP in the next 5 days.

COMP Price Prediction Chart

Buy/Sell Compound

What has been going on with Compound in the last 30 days

Compound has been displaying a negative trend recently, as the coin lost -25.58% in the last 30-days. The medium-term trend for Compound has been bullish, with COMP increasing by 58.99% in the last 3 months. The long-term picture for Compound has been negative, as COMP is currently displaying a -11.37% 1-year price change. On this day last year, COMP was trading at $ 62.94.

Compound reached its all-time high price on May 12, 2021, when the price of COMP peaked at $ 909.34. The current COMP cycle high is $ 82.89, while the cycle low is at $ 24.02. COMP has been displaying high volatility recently – the 1-month volatility of the coin is at 11.71. Compound recorded 10 green days in the last 30 days.

Compound technical analysis for today – Aug 15, 2023

The sentiment in the Compound markets is currently Neutral, and the Fear & Greed index is reading Neutral. The most important support levels to watch are $ 54.27, $ 52.81 and $ 51.69, while $ 56.86, $ 57.98 and $ 59.44 are the key resistance levels.

Neutral sentiment for Compound

20 indicators are currently signaling a bullish prediction for Compound, while 10 indicators are showing a bearish forecast. With 67% of indicators favoring a positive prediction. This results in an overall Neutral sentiment for Compound.

Crypto market is currently experiencing Neutral

Currently, the Fear & Greed index is at 50 (Neutral), which signals that investors have a neutral outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Compound moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Compound is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Compound is at 39.07, suggesting that COMP is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Compound over the last 50 days. Currently, Compound is trading above the SMA 50 trendline, which is a bullish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the COMP closing price for the last 200 days. COMP is now trading below the SMA 200, signaling that the market is currently bearish.

The bottom line about this Compound prediction

After considering the above factors, we can conclude that the current forecast for Compound price prediction is Neutral. COMP would have to increase by 15.01% to hit our $ 64.26 target within the next five days. Moving forward, it will be important to monitor the COMP market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Compound price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.