Trade DOT in Futures Market at CoinDCX
Issued on: 06th Dec’23
Valid up to 13th Dec’23
Price Update
DOT price at the time of writing (06th Dec’23, 16:21) is $5.965, with a 24-hour trading volume increased by 8.84% to $343 million. DOT price is up by 1.72% in the last 24 hours according to coinmarketcap.com.
Analysis
Analyzing the above chart:
- General Market bullishness, HTF + LTF bullish patterns , Strong price action, Break of major Resistance and retest and EMAs suggest a positive out for $DOT
- A Long Trading strategy can be assessed between $5.920 – $6.050 with an invalidation below $5.580
- On the upside, one can see a rise of 25-30% toward $6.470, $6.799 & $7.400
- Risk to Reward Ratio: 1:4.25 (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: DOT is now available in the futures market in both CoinDCX and CoinDCX Pro apps with up to 15x leverage.
| DATE | TOKEN | Strategy (Long/Short) |
TOKEN RETURN% | TOKEN RETURN % (with 8x leverage) |
BTC RETURN% |
| 6-Nov | ETH | Long | 13.16% | 105.24% | 2.71% |
| 7-Nov | MKR | Short | -4.70% | -37.60% | 6.48% |
| 9-Nov | BCH | Long | -5.24% | -41.94% | -3.78% |
| 10-Nov | LDO | Long | 7.88% | 63.04% | 0.90% |
| 15-Nov | BNB | Long | 6.75% | 54.00% | 2.90% |
| 17-Nov | NEAR | Long | -5.23% | -41.84% | -1.76% |
| 17-Nov | OP | Short | 11.38% | 91.04% | -0.98% |
| 20-Nov | DYDX | Short | 9.26% | 74.08% | -4.09% |
| 22-Nov | BCH | Short | Not considered | ||
| 23-Nov | ETH | Long | 3.31% | 26.48% | 0.77% |
| 24-Nov | ACH | Long | 6.95% | 55.60% | 2.06% |
| 28-Nov | IMX | Short | -4.92% | -39.36% | 3.23% |
| 28-Nov | RUNE | Long | 16.56% | 132.48% | 1.14% |
| 4-Dec | ADA | Long | 9.18% | 73.44% | 5.24% |
| AVERAGE RETURN | 4.95% | 39.59% | 1.14% | ||
| SUCCESS RATE | 69.23% |
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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