Issued on: 21st Sep’23
Valid upto: 28th Sep’23
Category: DeFi
Market Cap: $1.3 billion
Rank– #32
Price Update
LDO price at the time of writing (21st Sep’23, 17:50) is $1.50, with a 24-hour trading volume decreased by 4.62% to $36,146,618. LDO price is down by 3.20% in the last 24 hours according to coinmarketcap.com.
Analysis
Analyzing the above chart:
- LDO had a previous support level at $1.60, but it has now become a resistance level, indicating a shift in market sentiment.
- On a 1-day timeframe, LDO is currently in a downtrend within an expanding channel, suggesting a bearish market environment.
- The 20 EMA (Exponential Moving Average) is acting as a strong resistance level, hindering upward price movement.
- Multiple SMAs (Simple Moving Averages) and EMAs (Exponential Moving Averages) are in alignment, further confirming the prevailing bearish trend.
- A Short Trading strategy can be assessed between $1.5272-$1.4979 with an invalidation above $1.6080
- On the downside, one can see a fall of 20-25% toward $1.4201, $1.2601 & $1.1758 (valid for 7 days)
- 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: LDO 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% |
| 22-Aug | ICX | Short | Not considered | ||
| 22-Aug | BNB | Long | Not considered | ||
| 24-Aug | RUNE | Short | 5.63% | 45.1% | -1.54% |
| 25-Aug | LDO | Short | -5.02% | -40.15% | 6.04% |
| 29-Aug | PEPE | Short | -3.78% | -30.23% | 6.25% |
| 1-Sep | ANKR | Short | Not considered(flat) | ||
| 4-Sep | 1000SHIB | Short | 7.50% | 60.00% | -1.72% |
| 7-Sep | SEI | Long | -3.20% | -25.61% | -0.67% |
| 12-Sep | LPT | Long | Not Considered ( flat) | ||
| 13-Sep | RUNE | Long | 22.27% | 178.13% | 2.13% |
| 15-Sep | MKR | Long | 13.97% | 111.80% | 3.08% |
| 18-Sep | AAVE | Long | 10.00% | 79.96% | 1.65% |
| 18-Sep | LINK | Long | 8.29% | 66.30% | 0.43% |
| AVERAGE RETURN | 6.18% | 49.47% | 1.74% | ||
| SUCCESS RATE | 67% |
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, advise and/or views provided on this page are that of the author or company and are for informational purposes only. The Platform does not intend to: (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) to provide accounting, legal, or tax advice, or investment recommendations, or (iii) make any representation of any kind, express or implied, on accuracy, availability, reliability or completeness of the same. Note Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. AT NO TIME WILL THE PLATFORM BE LIABLE FOR YOUR USE OR RELIANCE OF THE SAID INFORMATION, ADVISE AND/OR VIEW WHICH IS SOLELY AT YOUR OWN RISK.”
