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  • Compound Price On A Bullish Streak and reaches just Above The $500 mark 
  • The DeFi protocol continues to provide a solid investment opportunity
  • Crypto market unfazed by the constant spectre of regulation with Compound one of the prime movers

The Compound price has been on a roll of late and recently reached the $511 mark with more potential upswing expected. COMP is still far from the $800 high registered in April but it has appreciated by almost 75% since the swing low of July 20 when the price was at a mere $339.

Compound’s rise has been nothing short of remarkable since it began trading around a year ago at the $120 level. The DeFi protocol was recently in the press with many investors now turning to it for its state-of-the-art finance technology. In fact, there seems to be a considerable panic building among the traditional investment market with products like Compound taking over by storm. All this is undoubtedly a boon to the Compound price.

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Short Term Prediction For Compound Price: More Positive Movement Expected Although Possible Retracements Likely

Compound Price

The Compound price has been on a consistent move forward during August with some expected retracements. It has bounced by over 20% since August 26 when the price was just under $400 and is expected to continue rising in the short term.

Although COMP is one of the cryptos which has had a spotlight thrown over it due to the talk of regulation, the reverse effect was experienced with its price rising substantially over the past week.

If the bullish scenario were to persist, then the Compound price would be expected to continue appreciating and reach the $550 level. This would be a gain of 10% from the current price. If resistance at this level is overcome, then COMP could be expected to continue rising and reach the $600 level which would be a three-month high.

If a bearish thesis were to come into play, the Compound price would most probably cede the $500 level and drop to the $450 mark. Strong support appears at this level although a sell off could precipitate a further drop in price. However, this scenario looks increasingly unlikely at this point.

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Long Term Prediction For COMP: Gaining Slowly But Surely

The Compound is expected to continue gaining slowly but surely as the bullish momentum in the cryptocurrency market continues. Although there could be some hiccups along the way, the general consensus is that the recent All Time High of $800 should once again be reached by end of year.

As COMP continues to gain traction with more press exposure on its project, institutional investors are also bound to take notice of this DeFi protocol. The spectre of regulation remains but at the moment buyers remain interested.

Where to Buy Compound

If you want to purchase Ripple, you can do so on the following exchanges:
• eToro
eToro is one of the trusted exchange platforms in the crypto space. eToro supports copy trading, which allows new traders to learn from market experts. eToro also charges low trading fees and commissions.
• Binance
The other platform where you can buy COMP is Binance. Binance is one of the largest exchange platforms. It supports a wide range of cryptocurrencies and trading pairs. It also offers user-friendly features.

Looking to buy or trade Compound now? Invest at eToro!

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