Trade BNB in Futures Market at CoinDCX
Issued on: 15th Nov’23
Valid up to 25th Nov’23
Price Update
BNB price at the time of writing (15th Nov’23, 17:45) is $248.3, with a 24-hour trading volume decreased by 2.19% to $881 million. BNB price is up by 1.83% in the last 24 hours according to coinmarketcap.com.
Analysis
Analyzing the above chart:
- Price action, General market bullishness, Indicators(EMAs and RSI), Fib Levels and HTFs + LTFs patterns and positive news of Binance web3 wallet launch suggest positive outlook for BNB.
- A Long Trading strategy can be assessed between $244.3 – $249.4 with an invalidation below $232.2
- On the upside, one can see a rise of 20-25% toward $260.8, $285.3 & $297.8
- Risk to Reward Ratio: 1:4.5 (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: BNB 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% |
| 16-Oct | BCH | Long | 12.54% | 100.32% | 8.15% |
| 17-Oct | JASMY | Short | Not Considered | ||
| 18-Oct | BLZ | Long | 32.54% | 260.32% | 5.76% |
| 19-Oct | LINA | Short | -5.47% | -43.76% | 6.10% |
| 20-Oct | FET | Long | 22.36% | 178.88% | 12.82% |
| 25-Oct | LDO | Long | 7.74% | 61.92% | 1.25% |
| 26-Oct | TOMO | Long | -5.79% | -46.32% | -0.67% |
| 26-Oct | DOGE | Long | -5.89% | -47.12% | -3.12% |
| 30-Oct | GRT | Long | -6.05% | -48.37% | -1.55% |
| 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% |
| AVERAGE RETURN | 5.26% | 42.05% | 2.92% | ||
| SUCCESS RATE | 50% |
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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