• The composite agreement gives full play to DeFi based on data encryption loans.

• The contract operates on Ethereum blockchain technology.

• COMP has been rising slowly after breaking through the important friction resistance of $55.

Since breaking through the friction resistance of $55 last month, the rise of composite COMP/USD is insignificant. The buying and selling price of cryptocurrency was US $61.7, slightly higher than the support point. However, the token is still bullish, and investors should be particularly interested in the current company valuation.

The enterprise was founded on the promise of innovating DeFi field based on data encryption borrowing. The customer deposits his cryptocurrency into a pool as a deposit and then as an interest loan. Depositors can also obtain tradable and transferable cTokens.

The profit of composite tokens mainly comes from the more comprehensive recovery of cryptocurrencies. Even so, the DeFi token has won a profit from the anticipated change from Ethereum to proof of equity. According to Ethereum blockchain technology, COMP is one of the tokens profiting from spillovers.

COMP remains above the moving average and breakthrough zone

Origin – TradeView

From the perspective of technology market, COMP is bullish. The token has fallen after a small increase in the past week. However, COMP has not broken through the 50 day moving average since mid to late July.

The MACD line is located below the moving average line, indicating that the bearish stock market may be under pressure again. COMP is likely to drop to the level of 55 dollars or 50 days MA. Shareholders should pay attention to the market price to explore the probability of purchasing tokens. If the price remains above $55, the next friction resistance of COMP is $75. Tokens bring long-term buying and holding opportunities.

Summarise

Despite the latest adjustment, the composite token is still bullish. Blockchain technology is likely to benefit from the anticipated changes in Ethereum's proof of equity. The strong support of $55 is still noteworthy. This token may also cause a bullish turn in the 50 day MA.