Trade LINA in Futures Market at CoinDCX
Issued on: 19th Oct’23
Valid upto: 26th Oct’23
Category: DeFi
Market Cap: $47 Million
Price Update
LINA price at the time of writing (19th Oct’23, 14:08) is $0.008421, with a 24-hour trading volume increased by 1.34% to $6.95 Million. LINA price is down by 9.28% in the last 24 hours according to coinmarketcap.com.
Analysis
Analyzing the above chart:
- LINA exhibits a strong bearish trend in both larger and smaller timeframes, with confirmation from bearish patterns like the bearish flag and breakdown followed by a retest of key levels.
- This bearish bias is further supported by the EMAs (Exponential Moving Averages), which align with the downtrend. (As can be seen on the above chart )
- The rising BTC dominance also adds weight to the bearish sentiment, indicating the potential for further downward movement in LINA.
- A Short Trading strategy can be assessed between $0.00860-$0.00840 with an invalidation above $0.00907
- On the downside, one can see a fall of 30-35% toward $0.00780, $0.00680 & $0.00550(valid for 7 days)
- Risk to Reward Ratio: 1:6.5 (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: LINA 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% |
| 21-Sep | LDO | Short | 6.08% | 48.62% | -3.22% |
| 25-Sep | WLD | Long | 9.10% | 72.81% | 0.88% |
| 27-Sep | MKR | Long | 13.25% | 105.98% | 3.56% |
| 27-Sep | C98 | Long | 9.04% | 72.33% | 5.61% |
| 3-Oct | MATIC | Long | 7.69% | 61.52% | -0.25% |
| 3-Oct | WLD | Short | 8.65% | 69.21% | -1.71% |
| 4-Oct | AVAX | Long | 12.84% | 102.72% | 2.19% |
| 5-Oct | AAVE | Long | -5.80% | -46.40% | -0.16% |
| 5-Oct | MKR | Long | -5.38% | -43.04% | -2.49% |
| 9-Oct | DOGE | Short | Not Considered | ||
| 9-Oct | OP | Short | 6.65% | 53.20% | -1.04% |
| 11-Oct | MKR | Long | -2.70% | -21.61% | -1.14% |
| 12-Oct | XVG | Short | -4.54% | -36.31% | 0.11% |
| 16-Oct | BCH | Long | 7.21% | 57.68% | 4.25% |
| 17-Oct | JASMY | Short | Trade is live | ||
| 18-Oct | BLZ | Long | 7.47% | 59.76% | 0.17% |
| AVERAGE RETURN | 4.97% | 39.75% | 0.48% | ||
| SUCCESS RATE | 71% |
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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