Trade FET in Futures Market at CoinDCX
Issued on: 20th Oct’23
Valid up to: 27th Oct’23
Category: Infrastructure
Market Cap: $179 Million
Price Update
FET price at the time of writing (20th Oct’23, 15:10) is $0.2200, with a 24-hour trading volume increased by 106% to $29 million. FET price is up by 9.87% in the last 24 hours according to coinmarketcap.com.
Analysis
Analyzing the above chart:
- FET has staged a strong recovery, bouncing back after a 61% correction.
- This bullish momentum is supported by the breakout of a descending trendline and the presence of a double bottom bullish pattern.
- Decent volume and a positive overall market environment further confirm the potential for FET to continue moving upward.
- A Long Trading strategy can be assessed between $0.2174-$0.2214 with an invalidation below $0.2083
- On the upside, one can see a rise of 20-25% toward $0.2375, $0.2490 & $0.2660
- Risk to Reward Ratio: 1:5.5 (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: FET 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% |
| 21-Sep | LDO | Short | 6.08% | 48.62% | -3.22% |
| 25-Sep | WLD | Long | 9.10% | 72.81% | 0.88% |
| 27-Sep | MKR | Long | 13.25% | 105.98% | 3.56% |
| 27-Sep | C98 | Long | 9.04% | 72.33% | 5.61% |
| 3-Oct | MATIC | Long | 7.69% | 61.52% | -0.25% |
| 3-Oct | WLD | Short | 8.65% | 69.21% | -1.71% |
| 4-Oct | AVAX | Long | 12.84% | 102.72% | 2.19% |
| 5-Oct | AAVE | Long | -5.80% | -46.40% | -0.16% |
| 5-Oct | MKR | Long | -5.38% | -43.04% | -2.49% |
| 9-Oct | DOGE | Short | Not Considered | ||
| 9-Oct | OP | Short | 6.65% | 53.20% | -1.04% |
| 11-Oct | MKR | Long | -2.70% | -21.61% | -1.14% |
| 12-Oct | XVG | Short | -4.54% | -36.31% | 0.11% |
| 16-Oct | BCH | Long | 7.21% | 57.68% | 4.25% |
| 17-Oct | JASMY | Short | Trade is live | ||
| 18-Oct | BLZ | Long | 12.66% | 101.28% | 0.17% |
| 19-Oct | LINA | Short | Trade is live | ||
| AVERAGE RETURN | 5.34% | 42.72% | 0.48% | ||
| SUCCESS RATE | 71% |
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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