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When Cryptoverse Meets Metaverse

The term 'metaverse' has been creating a buzz in the world in the last few months, Google search analysis shows that the term 'Metaverse' had a search score of less than 1 in 2020 which grew to 99 in 2022.  At the end of 2021 we also witnessed Facebook change its name to Meta , but its not only Facebook that is focused on the metaverse and its infrastructure, a bunch of tech companies are in the race for the metaverse (Nvidia, Unity, Roblox, Snap etc.) A recent report published by Technavio called, 'Metaverse Market in Finance by Component & Geography Forecast and Analysis 2022-2026' stated that the metaverse market will increase by $50.37bn during 2022-2026.  Another research company, Grand View Research , headquartered in San Francisco expects the global metaverse market size to grow by a compound annual growth rate (CAGR) of 39.4 from 2022 to 2030 But what exactly is the metaverse? Wikipedia describes metaverse as follows: 'Metaverse is a hypothetica

Future Price Prediction of The COMP Token: May to June 2021

 


  • COMP is currently priced at $810 as at 1st May 2021
  • COMP is predicted to end the month of May at $683 and climb to $777 by the end of June 2021
  • Sentiment Analysis - COMP Token returned a positive 65% as per the sentiment analysis model. A positive sentiment analysis could signal a buy trend
  • On a daily scale, the RSI currently sits at 76.29RSI above the 70 level signals overbought and below 40 signals oversold. The current level has gone past the overbought range. Therefore we expect a short term price drop for the COMP Token
  • MACD a momentum indicator indicates an upward trend in the price 
  • 10 Day Volume Moving Average vs Close Price

  • The chart above shows the relation between 10 Day Volume Moving Average (DVMA) calculated using the daily buying or selling pressure vs the close price of the cryptocurrency. The 10 DVMA can be used a gauge to predict the movement of price.
  • As per the chart, the price follows the 10 Day Volume Moving Average. The 10 DVMA dropped in April and as per our analysis, the drop in the 10 DVMA has not yet been reflected in the price. Therefore we expect the price of the COMP Token to drop in the next few days to a possible low of $600 before pulling back.
  • The circle shows a drop in the 10 DVMA which has not been reflected in the price as yet. 

Summary Points:
  • Short Term: Indication of a possible price decrease for COMP Token in the coming days with a possible low of $600 before pulling back to $683 by the end of May.
  • Long Term: The price of COMP Token could reach $777 by the end of June, resulting in a 4% drop from the current price.
  • Trade Indicator:
    • Short Term: Sell
    • Long Term:  Buy

Note: Price predictions in this article are based on mathematical models and should only be used as a reference and not as a trading signal. Trading decisions should not be based on the opinion in this article, investors should conduct their own due diligence before buying or selling the cryptocurrency. 

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