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  • Compound Price Up By 8% Over Past 24 Hours
  • After a pullback, COMP resumes its upward trend
  • Bullish trend for Compound Price As It Continues Rising

The Compound price has risen considerably over the past 24 hours as it resumes its upward trend. Although there was a slight pullback over the past few days, COMP is expected to begin challenging the $500 level once again.

COMPOUND has had a slight rollercoaster ride since 7 August when it tagged the $508 level to reach a bi-monthly high. The ascending channel from the July 20 low of $341 seemed to be in place with a 50% increase in the Compound price. However, performance has been rather sluggish since August 7 with the price sometimes dropping and sometimes gaining.

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Short Term Prediction For Compound Price: Looking to reach the $500 level again

Compound price

After the August 16 drop from $489 to $434, the Compound price is once again in bullish territory with an 8% gain to the $465 level. This sentiment is expected to prevail over the next days with the $500 mark the next line of resistance.

If a bullish thesis were to play out, the Compound price should rise to the $500 level pretty easily and also continue appreciating to the $550 level. This would be an almost 20% appreciation from the current price.

If bears return to the market, then the Compound price should continue dropping to find support at the $430 level. Although this appears unlikely for now, a sell-off could even make the price descend to the $410 level. However strong support at this level could also provide the springboard for a bounceback.

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Long Term Forecast For COMP: Bullish and Set to Reclaim its All Time High Soon

As the cryptocurrency market shrugs off most of its recent uncertainties, it seems that its time to buy some COMP as the price continues to rise. The ascending triangle which began on July 20 seems to be intact and further bullish prevalence is expected.

As always, some pitfalls remain along the way including the possibility of some short-term pullbacks. However, long-term indicators for the Compound price remain positive and more upward movement is expected.

Where to Buy Compound

If you want to purchase Compound, 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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