Recently, there has been quite a bit of research and development in exchanges, which led to the development of decentralized exchanges (DEXs). DEXs are exchanges which operate in a decentralized way, allowing the peer-to-peer exchange of cryptocurrencies. They are based on a trading pair matching system which allows people to post orders and trade without relying on a a third party to manage the ledger or order book and hold customers’ funds. Cryptocurrencies are directly transferred in/out of the wallets of the peers and are not hosted on a third party. The majority of the trading fee is shared amongst the users.
In case of a CEX (centralized exchange), the trading fee is kept with the exchange and all users’ cryptocurrency is hosted on the exchange’s wallet. The risk of a hack in the exchange’s crypto wallet puts the tokens of all users at risk. This risk is eliminated in case of a DEX. Moreover, users can make partial income by providing liquidity and sharing the trading fee amongst themselves. Now let us review some DEX token price predictions.
UNI/USD – Price Prediction
UNI is currently trading at a resistance zone of $3.85. If it can break this resistance, we can start seeing a move in UNI price towards $4.25, $4.50, and $4.87. Failure to break the current resistance will lead to a drop in price towards $3.27 and $2.67.
AAVE/USD – Price Prediction
AAVE has broken out of the resistance at $82.11 and is currently trading above the resistance flipped into support. If it can manage to stay above this new found support of $82, we can start seeing a move in AAVE price towards $90.33, $97.35, $107.34, and $120.07. Failure to hold the support at $82 could lead to a drop in price towards $76.18 and $65.00
BAL/USD – Price Prediction
BAL has bounced back from the support zone at $13.00. It is currently trading just above the support and could aim for the resistance at $15.56. If it can break this resistance, we could see a move towards $17.79 and $20.00. Failure to break the resistance could lead to a move down towards $13.05. If this support breaks, there is no substantial support till $9.00 and could be a good short entry.
CRV/USD – Price Prediction
CRV has broken the resistance at $0.81. If this resistance can be flipped into support, we can start seeing a move in CRV price towards $0.88 and $0.97. Failure to break the resistance opens up a possibility of pull back and short opportunity with targets at $0.74, $0.68, and $0.59.
Images courtesy of TradingView.
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