Trade LPT in Futures Market at CoinDCX
Issued on: 12th Sep’23
Valid upto: 22nd Sep’23
Category: Infrastructure
Market Cap: $175 million
Price Update
LPT price at the time of writing (12th Sep’23, 16:00) is $6.06, with a 24-hour trading volume increased by 5.56% to $28 million. LPT price is up by 1.72% in the last 24 hours according to coinmarketcap.com.
Analysis
Analyzing the above chart:
- LPT broke a descending trendline and retested it, with good volume, confirming bullishness.
- It also previously broke out of a falling wedge pattern, supported by a positive overall crypto market.
- Additionally, price is above 50 & 200 EMA Daily, indicating bullish outlook.
- A Long Trading strategy can be assessed between $5.910-$6.134 with an invalidation below $5.565
- On the upside, one can see a rise of 30-35% toward $6.370, $6.819 & $7.888 (valid for 10 days)
- Risk to Reward Ratio: 1:6 (Considering Target 3)
- 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: LPT is now available in the futures market in both CoinDCX and CoinDCX Pro apps with up to 15x leverage.
Last 30 Days Analysis Summary
| DATE | TOKEN | Strategy (Long/Short) |
TOKEN RETURN% | TOKEN RETURN % (with 8x leverage) |
BTC RETURN% |
| 11-August | AAVE | Short | 11.53% | 92.22% | -4.15% |
| 17-August | INJ | Short | 15.53% | 124.22% | -12.06% |
| 21-August | RNDR | Short | -4.64% | -37.12% | 2.66% |
| 22-August | ICX | Short | Not considered | – | – |
| 22-August | BNB | Long | Not considered | – | – |
| 24-August | RUNE | Short | 5.63% | 45.1% | -1.54% |
| 25-August | LDO | Short | -5.02% | -40.15% | 6.04% |
| 29-August | PEPE | Short | -3.78% | -30.23% | 6.25% |
| 1-September | ANKR | Short | Not considered(flat) | – | |
| 4-September | 1000SHIB | Short | 7.50% | 60.00% | -1.72% |
| 7-September | SEI | Long | -3.20% | -25.61% | -0.67% |
| AVERAGE RETURN | 3% | 24% | -0.65% | ||
| SUCCESS RATE | 50.00% |
Return % is calculated based on pricing data as available on the platform and is valid for 15 days from the date of publishing.
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