Compound Price Prediction: 2024, 2025, 2030

COMP price prediction: Key highlights

1. Primary support and resistance levels

• An analysis of the weekly chart showcased the lowest support level for COMP to be around $38.11.
• Subsequently, the highest resistance for the token can be anticipated at around $128.

2. Market sentiment

• The overall market sentiment for COMP is seen to be bullish in April 2024.

3. Predictive forecasts

• Our AI/ML models have predicted that the average price of COMP may reach up to $151.88 by 2030. Additionally, it may also reach an average price of $248.85 by 2032.

Gain deep insights on COMP via a comprehensive weekly technical analysis, followed by the coming days of the month, upcoming months, and yearly forecast tables derived from our AI/ML-based predictive models:

COMP technical analysis: Will the bulls rise amid a pullback?

The Compound price prediction for 2024 reflects the token's performance over the past year, which has been marked by significant volatility and key resistance levels being tested.

At the beginning of the analysis period in April 2023, COMP prices challenged the resistance level of $38.11. Subsequently, a downtrend emerged, pressing the price further down until early June. It was in June that a notable shift occurred – a strong bullish rally emerged, propelling COMP prices past the $38.11 mark. 

Furthermore, it soared beyond the $57.16 level and eventually touched the $70.70 resistance level. Despite attempts to breach this level, resistance held firm, and a subsequent downturn ensued that lasted until mid-September, drawing prices back to the foundational support at $38.11.

By late September, the market's sentiment shifted as another bullish surge commenced, leading to a gradual appreciation in COMP's price. During November, the token's value once again reached the $57.16 threshold. Still, it could not sustain a breakthrough, so it remained below this resistance for the remainder of the year and into the last week of January 2024.

As February unfolded, COMP was characterized by a robust bullish rally that shattered the $57.16 resistance. The momentum continued unabated, driving prices to the peak resistance of $96.53 – the highest level witnessed within the period under review. However, this success was met with a corrective pullback, causing prices to retrace to the $70.70 level.

At the time of this writing, COMP was trading at $72.80, indicating a slight recovery post-correction. During the analysis period, the COMP token displayed significant potential, which included a staggering 50% rise in prices within four days during June. 

According to CoinMarketCap, COMP displayed strong optimism, with its prices increasing up to 71% over the past year. The trading volume of COMP tokens have also showcased an 11% increase over the past 24 hours. This indicated that the token attracted significant investor interest throughout the analysis period.

From this price point, COMP can go in two directions. If COMP manages to break past the pullback and another bullish surge continues, COMP’s value may soar higher until it retouches the $96.53 mark within the next few weeks. A sustained bull rally may also push COMP’s value to touch the $128 mark, a level that has not been touched since 2022.

However, if the bears gain momentum, COMP’s value may fall below the $70.70 mark. A sustained bearish rally can also lead to COMP’s price plummeting further until it rests at the $57.16 mark.

Amidst all this, the future of COMP seems to be optimistic. Our AL/ML prediction models have claimed that the cryptocurrency token may reach an average value of $151.88 by 2030. Further developments within the COMP network may attract investors and whales into the market, pushing the price higher. According to our AI models, COMP can spike up to an average value of $248.85 by 2032 if major network improvements occur within the COMP ecosystem.

COMP's 2024 roadmap: Key indicators to watch and trade

• At the onset of the analysis period, the trading volume of COMP was significantly low. However, it began recovering by mid-June, mirroring the price action.
• At the time of writing, COMP’s trading volume had waned comparatively. However, it did not plummet to its previous lows.
• The Bollinger Bands remained contracted until mid-June. Following this, there was a period of expansion, suggesting increased volatility that lasted until mid-November. November brought back the narrowing of Bollinger Bands that lasted until February, suggesting a decline in volatility. However, by mid-February, the Bollinger Bands began expanding again.
• COMP's price candles managed to go above the upper band during mid-June and mid-February, which indicated that the asset was overvalued. However, both of these spikes were followed by corrective forces. 
• The price candles kept fluctuating between falling under and going above the 20-day moving average (MA). A significant dip was observed between April and mid-June. Following this dip, a strong spike pushed the candles above the 20 MA line. Although another dip was noticed, the price recovered and consistently remained above the 20 MA from November until the end of the analysis period, which signified a bullish momentum.
• At the onset of the analysis, the Moving Average Convergence Divergence (MACD) line was above the signal line but below the neutral line. The MACD and signal line managed to cross the neutral line by June. However, the MACD line fell below both the lines between August and November, mirroring the price action.
• The MACD line started recovering during mid-November. At the time of writing, the MACD line (valued at 7.25) was above the signal line (valued at 6.37) and the zero line, which indicated a bullish momentum. However, the histogram began decreasing, which suggested that the bullish momentum might be losing some strength.