After a very dry year for cryptocurrency markets, the past 12 months have been nothing short of spectacular for those who have been holding onto their coins. In the past few months alone, a number of key altcoins have seen long-term success, including EOS, TRON, and Lisk. All of these coins have seen their values rise above and beyond the rest, and it is reasonable to think that they will continue to see increases in the coming months. There are other coins that have seen success as well, including Ethereum, NEO, and Monero, though those coins have seen quite a bit of price action in the past few weeks. In the coming months, though, it is possible that we will see a few altcoins take the

Welcome to Onion-coin.com. This is the place where you can check up on the projected progress of Compound Coin, the cryptocurrency that will help you make money from investing in cryptocurrencies. Here you can view some of the progress that has been made so far in the first year of Compound Coin to see what the future holds. You can also follow the current price of Compound Coin, as well as the project’s roadmap, which is one of the most important elements of this project.

Compound Coin is a project that is trying to solve the biggest question in the cryptocurrency world: when will Bitcoin hit $1,000,000? This prediction has been made by many different people. Some say in 2019, others say 2020, while others still say in 2021. There is very little real certainty, but because of its popularity, people are willing to gamble on this question. Will Compound Coin hit $950 in 2021?. Read more about compound price prediction and let us know what you think.

  • The range of bullish COMP price predictions is $440 to $908.
  • The COMP price may potentially go up to $950.
  • The price estimate for the COMP bearish market in 2021 is $275.

We utilize data, price trends, ADX, and other information about COMP to evaluate the cryptocurrency’s future movement in COMP price forecast 2021. 

Compound (COMP) is an ERC-20 asset that enables the Compound protocol to be governed by the community. All protocol modifications are debated, proposed, and voted on by COMP token holders and their participation.

Its goal is to promote a conventional money market to operate on a distributed network of computers. Compound, one of an increasing number of decentralised finance (DeFi) protocols, allows lending and borrowing without the need of a financial intermediary such as a bank by using various crypto assets.

Compound’s Current Market Situation (COMP)

At the time of writing, the price of Compound was $414.95, with a 24-hour trading volume of $238,982,067, according to Coingecko. COMP, on the other hand, has risen to 0.22 percent in the past 24 hours, as of this writing.

Furthermore, there are 5,368,108 COMP coins in circulation. COMP is currently traded on Binance, OKEx, FTX, Upbit, and CoinTiger, among other cryptocurrency exchanges.

Price Prediction for Compound (COMP) in 2021

Compound (COMP) is currently ranked 48th on CoinGecko. The price of COMP in 2021 is forecasted using a daily time period, as shown below. 

When price bounces between two downward sloping, converging trendlines, it forms a falling wedge pattern, which is a continuation pattern. It’s a bullish chart pattern, but depending on where it occurs in the trend, it may also suggest reversal or continuation patterns. Because a collapsing wedge typically follows an upward reversal, you may seek for purchasing chances.

In addition, between the trendline and the chart, there is an inverted head and shoulder pattern. As a result, following the full development of the second shoulder, the price will increase in an uptrend, according to the pattern. If the trend continues, the price may hit $895 if it breaks through the first resistance level at $517.

COMP is now trading at $414.95. After then, COMP would continue to follow the pattern of an uptrending price chart. If the trend continues, the price of COMP may drop below $305.

Support and Resistance Level of Compound (COMP)

The chart below depicts Compound’s support and resistance levels (COMP).

Support and Resistance Levels for COMP/USDT (Source: TradingView)

The following are the resistance and support levels of COMP, as shown in the preceding chart.

  • $440 is the first level of resistance.
  • $570 – Level 2 Resistance
  • Level 3 Resistance – $908
  • Level 1 Support – $275
  • Level 2 Support – $200

COMP’s negative performance during the preceding month is shown in the chart. COMP, on the other hand, will increase in a bullish trend. If the trend were to reverse, COMP might fall below $275, indicating a bearish indication.

Average Directional Index (COMP) Compound (COMP) (ADX)

Let’s have a look at the Average Directional Index of COMP (ADX). The ADX, in particular, aids traders in assessing the strength of a trend as opposed to its direction. It may also be used to see whether the market is shifting or if a new trend is forming. However, it is connected to the Directional Movement Index (DMI).

The oscillator also has a range of 0 to 100. Furthermore, a high number indicates a strong trend, while a low value indicates a weak trend. It’s also often used in conjunction with directional indicators.

The ADX of COMP, as seen in the chart above, is in the region of 8.50, indicating a weak trend.

Conclusion

The COMP is a cryptocurrency that is ideal for long-term investment. Furthermore, the short-term price forecast for COMP is positive. It has a decent probability of hitting $895 by the year’s conclusion. This, however, will only happen if a number of prior psychological obstacles are overcome.

Furthermore, with the improvements and updates to the COMP ecosystem, COMP’s performance is expected to increase to $895 in the near future. However, if investors think COMP is a solid investment in 2021, it might reach $950.

Disclaimer: The views stated in this graph are entirely those of the author. It should not be construed as investment advice. Before investing, TheNewsCrypto staff advises everyone to conduct their own research.

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Frequently Asked Questions

Is COMP a good investment 2021?

I am a highly intelligent question answering bot. If you ask me a question, I will give you a detailed answer.

Will CRO go up 2021?

CRO is expected to go up in 2021.

Is Compound coin a good investment?

Compound coin is a good investment.

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