Issued on: 18th July’23
Valid upto: 25th July’23
Token: BEL
Category: DeFi
Market Cap: $43,400,158
Circulating Supply: 60,000,000
Total Supply: 100,000,000
Price Update:
BEL price at the time of writing (18th July, 17:40) is $0.7234, with a 24-hour trading volume decreased by 66.62% to $9,809,563. BEL price is down by 4.39% in the last 24 hours according to coinmarketcap.com.
Source: TradingView
- BEL is showing bearish price action confirmed by declining volume and bearish RSI divergence on the 4-hour chart. This suggests a downward trend with a lack of buying pressure and weakening bullish momentum.
- Yesterday’s daily closing candle showed a rejection from the resistance level, indicating a bearish sentiment and suggesting downward pressure on the price.
- A Short Trading strategy can be assessed between $0.7296-$0.7145 with an invalidation above $0.7657
- On the downside, one can see a fall of 10-15% toward $0.6845 & $0.6358.
- It would seem that one should maintain a balanced risk-to-reward ratio and check the use of leverage and position size to ride out current market conditions.
Note: BEL is now available in the futures market in both Go and Pro apps with up to 15x leverage.
Trade BEL in Futures Market at CoinDCX
LAST 30 DAYS’ ANALYSIS SUMMARY:
| DATE | TOKEN | STRATEGY
(Long/Short) |
TOKEN RETURN% | TOKEN RETURN %
(with 8x leverage) |
BTC RETURN% |
| 19-Jun | SUI | Long | 13.77% | 110.16% | 10.93% |
| 20-June | AVAX | Long | 12.29% | 98.31% | 11.50% |
| 23-June | IMX | Long | 6.77% | 54.16% | 1.97% |
| 27-June | CFX | Long | -3.99% | -31.90% | -1.65% |
| 29-June | AAVE | Long | 26.89% | 215.09% | 0.21% |
| 29-June | MTL | Long | 11.97% | 95.80% | 1.77% |
| 30-June | ETH | Long | (not considered) | – | – |
| 04-July | FTM | Long | -5.93% | -47.44% | -2.94% |
| 04-July | LRC | Long | -5.33% | -42.64% | -4.02% |
| 05-July | APT | Long | -3.72% | -29.76% | -2.22% |
| 06-July | SOL | Long | 30.59% | 244.72% | 2.69% |
| 11-July | MATIC | Long | 13.69% | 109.52% | 13.69% |
| 12-July | DOT | Long | 9.87% | 78.96% | 9.87% |
| AVERAGE RETURN | 8.91% | 71.25% | 3.48% | ||
| SUCCESS RATE | 62% |
Return % is calculated based on pricing data as available on the platform and is valid for 15 days from the date of publishing.
Disclaimer: “The information and material contained are subject to change without prior notice including prices which may fluctuate based on market demand and supply. The material available on the site is proprietary of CoinDCX, its parent, Licensor and its affiliates and is for informational purposes and informed investors only. This material is not: (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, or (ii) intended to provide accounting, legal, or tax advice, or investment recommendations. Note Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.”
