Trade LINK in Futures Market at CoinDCX
Issued on: 18th Sep’23
Valid upto: 25th Sep’23
Category: Oracles
Market Cap: $3.67 Billion
Rank- 19th
Price Update
LINK price at the time of writing (18th Sep’23, 15:45) is $6.60, with a 24-hour trading volume increased by 178% to $218 million. LINK price is up by 6.36% in the last 24 hours according to coinmarketcap.com.
Analysis
Analyzing the above chart:
- In Weekly and Daily Chart, LINK is moving in a range , We have found the opportunity using Support & Resistance levels.
- Additionally, Oscillators(which work really well in a range) confirming the potential bullishness.
- In 4 Hour Chart, LINK has broken out of its trading range with strong volume and has risen above a significant resistance level, signaling a potential uptrend.
- A Long Trading strategy can be assessed between $6.504-$6.668 with an invalidation below $6.172
- On the upside, one can see a rise of 25-30% toward $7.056, $7.909 & $8.459 (valid for 7 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: LINK 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% |
| 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% |
| 12-September | LPT | Long | Trade is live | ||
| 13-September | RUNE | Long | 22.27% | 178.13% | 2.13% |
| 15-September | MKR | Long | 7.28% | 58.24% | 1.13% |
| 18-September | AAVE | Long | Trade is live | ||
| AVERAGE RETURN | 4.62% | 36.95% | 0.25% | ||
| SUCCESS RATE | 56% |
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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