COMP Price Prediction As It Surges on Daily Chart. Will Price Test the $80 Price Mark?

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Amidst a surge in price on the daily chart, Compound (COMP) has garnered attention in the cryptocurrency market with notable gains. Traders and investors closely monitor the token’s trajectory to see if it will reach the critical $80 price mark.

As technical indicators signal a potential bullish momentum, whether COMP can maintain its upward momentum becomes a focal point for market participants.

Meanwhile, Compound is a decentralized finance (DeFi) lending protocol that enables users to generate interest on their digital assets.

Past and Present COMP Price Changes

In the past, the price of Compound’s token (COMP) has usually ended higher than where it started on the last day of June. July seems to be a good month for COMP’s price as it has been on a steady on-trend movement.

On the other hand, May has been a not-so-good month for COMP, as the price has typically ended lower than where it started. One remarkable event was in May 2021, when the price of COMP reached a very high value of $911.25.

Sentiment indicators currently show a Neutral sentiment, and the Fear & Greed Index stands at 50, indicating a Neutral market sentiment.

In the last 30 days, the Compound had 13 green days (43%), and the price experienced volatility of 26.32%. Over the last 7 and 30 days, the Compound has increased by 4% and 143.87%, respectively.

Based on the most recent data, the current price of Compound stands at $72.17, and it holds the 73rd position in the cryptocurrency market. The circulating supply of Compound is 7,785,961 tokens, resulting in a market capitalization of over $562 million.

Over the past 24 hours, the crypto’s value has decreased by -2.68%. The market cap has also declined compared to the previous day’s figures.

COMP Price Analysis Using Technical Indicators

After a rebound, the asset is now trading above the middle band of the Bollinger Bands indicator, suggesting that the price is in an uptrend. Traders often view this as a bullish signal for potential price appreciation.

Additionally, the price is at 61 on the Relative Strength Index (RSI) indicator, which suggests that the asset is slightly overbought.

Meanwhile, RSI values above 70 typically indicate overbought levels, which may lead to a potential pullback or correction in the price as traders consider taking profits.

The Moving Average Convergence Divergence (MACD) is below the signal line, indicating a bearish signal. Generally, the MACD trading below the signal line signals the possibility of a price correction before an implosive move.

COMP Key Price Levels

Compound (COMP) is trading within key support and resistance price levels of $72.21 to $85.56.

The initial major resistance level for COMP is $84.37, and a successful breach above this level may lead to $101 and $116.46 significant resistance levels.

These resistance levels hold importance as they could signal the possibility of additional price appreciation for the token. Conversely, if the price drops below the primary support of $72.16, the next key levels to consider will be $51.94 and $38.42.

Price dropping below this level will signal a bearish market.

Expert’s Insights on the Price of COMP

DigitalCoinPrice’s long-term price prediction for COMP was optimistic but cautious. They estimated an average price of $74.85 in 2023 and $229.35 by 2025. Their bullish prediction indicated COMP could reach an average of $794.61 by 2030.

CoinPriceForecast’s forecasts were also positive. They projected COMP to trade at $101.95 by the end of 2023 and reach $135.79 by mid-2025. In the longer term, they expected the token to grow to $140.11 by December 2030.

As of Aug 01, 2023, WalletInvestor’s algorithm-based long-term price prediction for COMP was positive, suggesting the coin’s value could increase to $99.

Additionally, PricePrediction’s forecast for COMP was also optimistic. Using deep artificial intelligence (AI)-assisted technical analysis, they predicted the price could rise to an average of $138.38 in 2024.

Factors Affecting the Price of Compound (COMP)

According to a recent report, a single large account received 644,556 COMP tokens valued at $47 million from the Compound team and deployer.

Subsequently, this account deposited 116,320 tokens worth around $6.5 million into Coinbase. Kraken, a crypto trading platform, sold 131,900 COMP tokens through Cumberland and 27,800 tokens on the DEX.

The increasing mainstream awareness and adoption of cryptocurrencies like Compounds have also played a role in the significance of these events, potentially impacting the token’s trading price.

The recent news about the suspicious whale transactions involving Compound tokens has sparked interest and raised concerns among crypto investors.

Such significant movements by whales can potentially influence market sentiment and cause fluctuations in the price of BTC and other cryptocurrencies.

As Compound gains traction in the mainstream, investors may closely monitor the situation and its potential impact on the crypto market, including Bitcoin’s price.

Chimpzee, A Promising Web3 Initiative to join

Chimpzee is an innovative web3 initiative that aims to positively impact the environment and wildlife preservation while offering attractive rewards to token holders.

The project has gained significant attention from crypto and traditional communities concerned about wildlife conservation.

Investors participating in the presale can utilize CHMPZ tokens to acquire the Chimpzee NFT passport, unlocking various incentives, such as passive income opportunities and exclusive access.

As one of the most promising eco-friendly projects in Web 3.0, CHMPZ is projected to provide substantial returns to early investors by the fourth quarter of 2023.

Let’s explore the project in detail to assess its potential and whether it can meet the expectations surrounding it.

Save Animals, Save Forests While You Earn

The alarming increase in endangered species and deforestation poses a significant threat to the global climate. NOAA’s 2021 Annual Climate Report reveals a steady rise in average land and ocean temperatures since 1880.

Urgent action is required to address the escalating extinction rates and widespread forest loss caused by human activities, such as habitat destruction and pollution. Nearly one million animal and plant species are at risk of extinction, with climate change exacerbating the situation.

Forests play a crucial role in absorbing carbon dioxide and act as a vital carbon sink, mitigating the effects of climate change by absorbing around 2.6 billion tonnes of CO2 annually.

Features of The Chimpzee Ecosystem

The Chimpzee ecosystem offers three avenues for earning rewards: shop-to-earn, play-to-earn, and trade-to-earn.

Chimpzee Shop: Here, you can purchase unique merchandise while earning passive income in CHMPZ coins.

Each purchase contributes to fighting climate change and animal cruelty, as a portion of the profits goes to charity.

Chimpzee NFT Marketplace: This platform enables trading and earning rewards while promoting a better world.

Notably, users receive a share of trading fee profits. Environment-focused NFTs are prominently featured, and projects undergo vetting to ensure uniqueness.

Zero Tolerance Game: Engage in this play-to-earn game to earn CHMPZ coins and exclusive prizes.

Your gameplay performance enhances your standing within the ecosystem, providing additional advantages.

Enticing Bonus Awaits Early Investors

As the cryptocurrency market matures, investors have a growing preference for innovative projects that bring about real-world impact.

Chimpzee stands out in this regard, as it recognizes the importance of rewards and recognition in various aspects of life, including climate action.

Chimpzee motivates individuals to participate in its mission and contribute to positive change by fostering a fun, transparent, and efficient ecosystem.

Given CHMPZ’s immense potential, it is not unexpected that reputable publications consider it among the most promising cryptocurrencies to invest in for 2023.

Participating in the early stages of the presale offers more appealing discounts, while the token price will incrementally rise as it progresses. The exchange listing price is set at a fixed rate of $0.00185, making the presale an enticing opportunity for investors.

$CHMPZ Presale

The Chimpzee ($CHMPZ) token presale is presently in stage 7, with over 1.5 CHMPZ tokens sold, raising about $894,000.

The presale price for the token is $0.0007 CHMPZ, where 1 USDT is equivalent to 1429 CHMPZ. Interested investors can buy now before the price climbs to $0.000775 CHMPZ.

How to Purchase Chimpzee

Find and access the presale widget located on the Chimpzee website.
Connect your Trust Wallet, MetaMask, or any other ERC-20-supported crypto wallet.
Fund your wallet with USDT or ETH
Enter the amount of your preferred cryptocurrency to swap for $CHMPZ
After completing the transaction, return to the widget located after the presale and claim your tokens.