The demand for DEXs has been growing steadily. We have seen an impressive rise in the price of several DEX tokens in 2020. It is safe to say that 2020 has been the year of DEXs as DeFi has boomed.
DEX tokens provide a wide range of options to its holders like staking, providing liquidity, liquidity mining, governance, funding, borrowing, farming etc. Some of these farmed yields have initially given an APY of over 100,000% in the first few hours of yield farming. As such, there has been some tremendous movement in DEX token price for the various exchanges.
Such high gains are bound to attract more and more investors in this space. We covered the price predictions for UNI, CRV, AAVE, and BAL in the previous article. Today we will cover the price predictions for KNC, ZRX and NEX.
KNC/USD – Price Prediction
KNC is approaching the first support zone of $0.86, which would be a good place to open a long. We could see a potential move towards $1.05, $1.20, and $1.31. Failure to hold the support at $0.86 could result in a drop in KNC price towards $0.79 and $0.70.
ZRX/USD – Price Prediction
ZRX could not break the resistance at $0.45, and we have seen a downward movement on the price of 0x since then. We could see a potential move towards $0.36, $0.34, and $0.31 to retest the previous support zone. In order for ZRX price to be bullish, it has to break the resistance of $0.45 and make higher highs and higher lows. In case we close a few daily candles above $0.45 and flip the resistance zone to support, we could see a move towards $0.55 and $0.62.
NEX/USD – Price Prediction
Nash Exchange Token is approaching a resistance zone at $1.20. If it can break this resistance, we can start seeing a move towards $1.45, $1.65, and $1.95. Failure to hold the break the resistance at $1.20 could lead to a drop in price towards $1.00 and $0.80, which would be good areas to long since there is a long-term support at that zone.
Images courtesy of TradingView.
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