Trade DOGE in Futures Market at CoinDCX
Issued on: 25th July’23
Valid upto: 4th Aug’23
Token: DOGE
Category: Payments
Price Update: DOGE price at the time of writing (25th July, 14:43) is $0.007175, with a 24-hour trading volume increased by 526.58% to $1,778,627,827.DOGE price is up by 4.00% in the last 24 hours according to coinmarketcap.com.
Source: TradingView
Analyzing the above chart:
- Over the past couple of days, DOGE/USDT has outperformed other altcoins and demonstrated strength in the overall market.
- The DOGE is displaying a bullish Relative Strength Index(RSI)divergence. (in the daily timeframe)
- In addition to the bullish RSI, another confirmation of a bullish trend for DOGE is the recent volume spike observed in the last few days. This increase in trading volume, coupled with positive technical indicators, further supports the notion of a bullish outlook for DOGE.
- A Long Trading strategy can be assessed between $0.07459-$0.07751 with an invalidation below $0.06984
- On the Upside, one can see a rise of 30-40% toward $0.08166, $0.08931 & $0.10416. (valid for 10 days)
- 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: DOGE is now available in the futures market in both Go and 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% |
| 27-June | CFX | Long | -3.99% | -31.90% | -1.65% |
| 29-June | AAVE | Long | 26.89% | 215.09% | 0.21% |
| 29-June | MTL | Long | 11.97% | 95.80% | 1.77% |
| 30-June | ETH | Long | (not considered) | – | – |
| 04-July | FTM | Long | -5.93% | -47.44% | -2.94% |
| 04-July | LRC | Long | -5.33% | -42.64% | -4.02% |
| 05-July | APT | Long | -3.72% | -29.76% | -2.22% |
| 06-July | SOL | Long | 30.59% | 244.72% | 2.69% |
| 11-July | MATIC | Long | 13.69% | 109.52% | 3.77% |
| 12-July | DOT | Long | 9.87% | 78.96% | 1.82% |
| 13-July | BEL | Short | 12.78% | 102.28% | -2.98% |
| 20-July | STX | Long | -3.62% | -28.98% | -4.36% |
| 21-July | SAND | Short | Trade is live | – | |
| AVERAGE RETURN | 7.56% | 60.51% | -0.72% | ||
| SUCCESS RATE | 55% |
Return % is calculated based on pricing data as available on the platform and is valid for 15 days from the date of publishing.
Disclaimer: “The information and material contained are subject to change without prior notice including prices which may fluctuate based on market demand and supply. The material available on the site is proprietary of CoinDCX, its parent, Licensor and its affiliates and is for informational purposes and informed investors only. This material is not: (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, or (ii) intended to provide accounting, legal, or tax advice, or investment recommendations. Note Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.”
