Trading cryptocurrencies was not an easy task in their inception years. Thanks to the tremendous advancement in exchanges, trading cryptocurrencies has become an easy task for the retail investor. The daily volume on exchanges is growing and so is the number of exchanges. It will be highly challenging for a single exchange to cater to the needs of all traders. Even with multiple exchanges, many exchanges break down time and again due to the increase in the traffic.
This market is open 24/7, 365 days a year unlike other traditional markets. Exchanges have to be on their toes all the time to cater to the rising needs of the ever growing number of investors in cryptocurrencies. With billions of dollars of cryptocurrencies traded every day, exchanges have to keep on innovating to provide a one-stop-shop for all of the trader’s needs and to ensure that traders do not leave their platform.
Many exchanges have come up with their native tokens to provide incentives and benefits to the traders who use their platforms in terms of discounts in trading fees, staking options, launchpads, launchpools, voting rights, etc.
Let us review some of these tokens and offer some price predictions for BNB, OKB, KCS, CRO, HT, and LEO.
BNB/USD – Price Prediction
Binance is one of the leading cryptocurrency exchanges, maintaining the number one position in regards to daily volume. The utilities of its exchange token, BNB, are immense.
If BNB can continue holding above $28 zone, we can start seeing a mid-term move towards $32, $35, $38, $43, $49, and $66. Failure to hold the support at $28 could lead to a drop in BNB price towards $26 and $24, which are crucial levels to hold and also good places to buy BNB. Below $24, BNB will lose its majority gains, and we can start looking at a sub $20 target.
OKB/USD – Price Prediction
The native exchange token for OKEx, OKB, is currently trading just above the support of $5.08. Failure to break this support could lead to a drop in OKB price towards $4.79 and $4.00, which would be a good place to add to longs with targets of $5.50, $6.01, $6.65, and $7.50.
HT/USD – Price Prediction
HT is the native token of Huobi. It is currently trading at a resistance, and we should wait for a drop till $4.05 and a potential move towards $3.65 to add to longs. Targets for the bull run of HT would be $4.09, $4.26, $4.47, $4.73, and $5.00.
KCS/USD – Price Prediction
KCS has lost most of its gains which it made since August 2020 and is currently approaching a good support zone of $0.82 but is failing to hold it. A move towards $0.75 is possible, which will be a good place to buy KCS, the exchange token for KuCoin. Breaking the support of $0.75 will lead to a further downside in KCS. A bounce from this year-long support could lead to a pull towards $0.82, $0.90, $1.01, $1.10, $1.18, and $1.29.
CRO/USD – Price Prediction
Crypto.com Coin is currently trading close to a weak support zone of $0.06315. If it can stay above this support, there is quite a good upside to CRO with targets at $0.06936, $0.07725, $0.09734, and upon clearance of this resistance zone of $0.097, we can see a rapid move in CRO price towards $0.1451. However, if the current support breaks, this coin will drop in a free fall.
LEO/USD – Price Prediction
LEO, the native token of Bitfinex, made history by raising the highest amount in an IEO to an extent of one billion dollars. It lost its support of $1.28 and started dropping below for months. Recently, it established a support at $1.16, started gaining momentum, and flipped the resistance of $1.28 to support. LEO has started showing signs of a good rally. Once LEO flips $1.35 to support, we can see a move towards $1.40, $1.50, $1.71, and $1.90.
Images courtesy of TradingView.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.
Do your own due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
Source: altcoinbuzz.io
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