Compound price forecast for June 2021

are the latest governance suggestions and the upcoming cross-chain support to counteract the compound bear market?

The rise of Defi Last year has meant that many crypto platforms have appeared that offer better services than their fiat counterparts. Compound is perhaps the most famous among all Defi credit platforms and enables people to lend and borrow crypto-assets by using intelligent contracts and eliminating the need for intermediate dealers. Based on the Ethereum network, Compound is fueling its entire ecosystem over its native comp-token.

Source: www.coinmarketcap.com

Compounds Compr last year recorded an upward trend and started in 2021 at a decent price of $ 148.8 and quickly rose to value when Defi really started. His first big leap took place in the early days of February when the token reached a price of USD 550 within two weeks. The next big upward trend came in April and extended until May, with COMP reaching 905 USD at the time. Since then it has mainly been in a downward trend and at the time of the letter, comprs around $ 333.

Since it will drop by almost a third in a few weeks, we will see what strengths work on compound and determine its future prospects.

composed price analysis

Source: www.marketcap.com

Exactly a year ago COMP was traded at $ 97.64, a very moderate price. After it rose almost 3.5 times to $ 355.92 in a few days, it went back and apart from a few jumps in August and September 2020, it didn't move much in terms of price. The turn of the year heralded a boom in Defi and Compound was quickly recognized as one of the best options and a lively interest caused it. With a maximum of $ 905, it has withdrawn and is again at the level of more or less 12 months ago ($ 333). If you had bought comprise at the beginning of the year and still hold it, you would have had no growth overall.

where can you buy compound?

events that could influence the compound price in June

What is the defi platform ahead of while compound continues? Let's take a look at some aspects that can exert and play their influence.

crypto-exchange lists

The Compound Comp-Token Compound was already available on some large cryptocurrency exchanges, but was recently added by the Etoro social trading platform. This gives the token greater market access and helps to invest in the tokens that can continue to be used for agriculture.

In the first week of June, Competamp was also added by BISTAMP in an advertising program, in which dealers and investors can buy the compound token for the next three months without fees.

tor

Source: Compound Labs Twitter

Compound will launch his latest service called Gateway in the coming months. This gives users access to a wide range of crypto-assets, also in other blockchain networks, which may increase the livelihood and user-friendliness of its comptoken, since it previously opens up isolated markets in other large Defi blockchain networks.

Extension pool

compound regularly introduces new investment pools, with the latest additions to TUSD and Link in the past few months. Since more will be added in the coming days, this will make more people to increase the value of comp.

Wider market mood

Although there is a lot going on at the end of Compound, the general market mood cannot be ignored. The wider market has been in a declining mode for a few weeks now. The price increase in the last few days has largely been due to Elon Musk's attitude towards Bitcoin acceptance for Tesla purchases, but how long this will take for the bear's mood to overtake again is an open question.

composed price forecast

Although the activity of Compound is always a good sign that the loan platform is actively working to offer more services and expand existing ones, the numerical game cannot be ignored. Let's see what the technical indicators show and what can be analyzed from it.

Source: www.gov.capital

GOV Capital uses his internal AI system to make precise predictions and has something dark prospects for the rest of the Junis. In the next few days, the comperative could record a small decline, followed by another one that estimates a monthly low of $ 134 (about a third of its current value). A recovery is expected in the last Junitagen, but the estimates range from optimistic $ 184.34 to pessimistic $ 165.89

Even the one-day candlestick and the moving average from the Binance charts show no positive outlook.

Source: www.binance.com

The moving 7 and 25-day average begin to approach even though they reduce their falling values. This could indicate that Compr could get stuck in a narrow area. The large-scale 99-day-MA shows a completely different value, but also seems to laugh.

This prediction is also supported by the MACD values. Both the 12 and 26-day values cross very closely and if there are no very positive news that causes a return of interest to compound, the crossings will continue within this range.

This is a prediction and the market can change at any time if positive or negative messages are announced. What exactly needs to be followed are the upcoming regulations presented by different nations, and all major budget changes that may disturb the Fiat strength and can cause people to protect their investments, since many compound pools offer higher interest rates than paper currencies.

Please note that the above -mentioned article is a purely opinion -based contribution based on relevant available data. It should not be considered direct investment advice.