Issued on: 30th May’23
Valid upto: 07th Jun’23
*Very high volatility token
Token: LINA
Category: DeFi
Market Cap: $109,002,264
Circulating Supply: 5,270,905,104
Total Supply: 10,000,000,000
Price Update: Linear (LINA) is a decentralized delta-one asset protocol capable of instantly creating synthetic assets with unlimited liquidity. The project opens traditional assets like commodities, forex, market indices and other thematic sectors and is prominent in Hong Kong Markets. LINA price at the time of writing (30th May, 17:15) is $0.0202 with 24-hour trading volume of $255,720,618. LINA price is up by 18% in the last 24 hours according to coinmarketcap.com.
Analyzing the above chart:
- LINA has been on the upwards rally for the past 48 hours.
- Conducting Elliott Wave Theory (EWT), the wave 2 was retraced 0.618 fib levels, and currently wave 3 is ongoing or getting extended (with all 5 waves).
- A retracement for the wave is expected, which will occur near $0.017-0.015. Before the final 5th wave rally towards $0.032.
- A Long Trading strategy can be assessed between $0.0195-$0.0153 with invalidation below $0.014. [very high volatility]
- On the upside, one can see a rise of 40-60% towards $0.026 as first level and if markets turn more bullish we can also see moving towards $0.032.
- It would seem that one should maintain a balanced risk to reward ratio and check use of leverage and position size to ride out current market conditions.
An illustration of Leverage in Futures Market:
Note: LINA is now available in the futures market in both Go and Pro apps with up to 15x leverage.
Trade LINA in Futures Market at CoinDCX
Trade LINA in Futures Market at CoinDCX Pro
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The Content is for informational and educational purposes only. The Content is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or securities or virtual digital assets or to participate in any investment or trading strategy.The Content or any part of it is not legal, financial, investment or tax advice. The calculations, data, risk return formulations, performance or market capitalization indicators are based on the independent data sourced by CoinDCX or third parties. Past performance is not indicative of any future results.
