Trade LDO in Futures Market at CoinDCX
Issued on: 25th Aug’23
Valid upto: 04th Sep’23
Category: DeFi
Market Cap: $1,388,420,815
Price Update:
LDO’s price at the time of writing (25th Aug’23, 15:55) is $1.58, with a 24-hour trading volume increased by 2.71% to $56,581,639. LDO’s price is down by 6.08% in the last 24 hours according to coinmarketcap.com.
Analyzing the above chart:
- LDO has a token unlocking event today, releasing 0.97% of tokens, which might contribute to a price drop due to increased supply.
- Analysis indicates that LDO is technically weaker.
- This observation is supported by a downward channel pattern visible in the one-day timeframe.
- Additionally, there has been a break of an important support level at around $1.68.
- Notably, there’s also a decrease in trading volume accompanying these trends.
- A Short Trading strategy can be assessed between $1.594-$1.578 with an invalidation above $1.674
- On the downside, one can see a fall of 15-20% toward $1.489 , $1.398 & $1.256 (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: LDO 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% |
| 25-July | DOGE | Long | 6.97% | 55.76% | 0.95% |
| 26-July | WLD | Short | 7.60% | 60.81% | 0.85% |
| 28-July | ETH | Short | 2.53% | 20.27% | 0.36% |
| 1-August | OP | Short | -5.33% | -42.64% | 0.43% |
| 3-August | BCH | Short | 6.39% | 51.12% | -0.52% |
| 4-August | FLOW | Short | 6.16% | 49.28% | -1.90% |
| 4-August | 1000SHIB | Long | 26.16% | 209.30% | 1.41% |
| 7-August | MAGIC | Long | -2.59% | -20.75% | -1.69% |
| 8-August | ADA | Short | 11.27% | 90.19% | -4.27% |
| 11-August | AAVE | Short | 11.53% | 92.22% | -4.15% |
| 17-August | INJ | Short | 15.53% | 124.22% | -12.06% |
| 21-August | RNDR | Short | -4.64% | -37.12% | 2.66% |
| 22-August | ICX | Short | Trade is live | – | – |
| 22-August | BNB | Long | Not considered | ||
| 24-August | RUNE | Short | 4.67% | 37.4% | -0.64% |
| AVERAGE RETURN | 6.63% | 53.1% | -1.43% | ||
| SUCCESS RATE | 77% |
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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