CoinDCX Lists New Futures Trading Pair: COMP/USDT – Trade Now!

Key Takeaways:

• While the COMP/USDT price action in the earlier part of 2023 had been lackluster, things have begun to show real promise over the past four weeks.
• Ever since mid-June, COMP/USDT has shown an incredible 173% rally and has breached several crucial resistance levels and flipped them into supports.
• From a technical point of view, COMP/USDT still has some mileage to continue its rally before cooling off briefly.

COMP/USDT Price Analysis

COMP/USDT | Source: TradingView

• Compound’s native crypto token COMP has shown some serious gains in the past four to five weeks. It has gone from around $25 in the middle of June all the way to touch $85 in the middle of July before settling at around $71 as of writing this article.
• This rally over the past four weeks has been an incredible 173% rally as of writing this article, and it has breached past several crucial resistance levels on the chart – by breaking out of the downward trendline around $30 and the long-term resistance level at $70, where the prices are currently holding.
• This awesome rally in COMP/USDT has also resulted in the very optimistic golden crossover of the 50-day and 200-day exponential moving averages on the technical charts (as indicated by the circle on the chart above).
• Trading volumes and activity over the past couple of months have also seen a massive rise amid the rally, indicating traders are participating in this rally too.
• With an RSI value of 63 as of now, we could see some amount of continuation rally up to $85 to $90, but some cool-off period after that.

Read On: CoinDCX Lists a New Future Trading Pair: FET/USDT

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COMP 2023 Price Prediction

COMP is a token that has been seeing positive action all across the board over the past month or so. This is a largely optimistic indication, from a technical point of view and this can be expected to continue for the near future also. As long as the $70 support level is maintained for the rest of 2023, we could see a potentially 50% to 75% rally up to $105 to $125 levels by the end of the year.