Trade SEI in Futures Market at CoinDCX
Issued on: 07th Sep’23
Valid upto: 14th Sep’23
Category: DeFi
Market Cap: $237 million
Price Update:
SEI price at the time of writing (07th Sep’23, 10:47) is $0.1319, with a 24-hour trading volume increased by 49.81% to $59 million. SEI price is up by 6.57% in the last 24 hours according to coinmarketcap.com.
Source: TradingView
OPEN INTEREST
Analysis
Analyzing the above chart:
- SEI’s price action is strong , aligning with the breakout of trendlines and patterns on lower time frames (LTF).
- The trading volume is decently rising, and there’s a notable increase in open volume, which correlates with the price movement.
- These factors collectively indicate short-term bullishness in the market.
- The current pattern and breakout resemble a pattern SEI exhibited in August 2023, which can be observed on the above chart.
- A Long Trading strategy can be assessed between $0.1312-$0.1335 with an invalidation below $0.1270
- On the upside, one can see a rise of 15-20% toward $0.1494 & $0.1550 (valid for 7 days)
- Risk to Reward Ratio: 1:6 (Considering Target 2)
- 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: SEI is now available in the futures market in both CoinDCX and CoinDCX Pro apps with up to 10x leverage.
Last 30 Days Analysis Summary
| DATE | TOKEN | Strategy (Long/Short) |
TOKEN RETURN% | TOKEN RETURN % (with 8x leverage) |
BTC RETURN% |
| 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 | Not considered | – | – |
| 22-August | BNB | Long | Not considered | – | – |
| 24-August | RUNE | Short | 5.63% | 45.1% | -1.54% |
| 25-August | LDO | Short | -5.02% | -40.15% | 6.04% |
| 29-August | PEPE | Short | -3.78% | -30.23% | 6.25% |
| 1-September | ANKR | Short | Trade is live | ||
| 4-September | 1000SHIB | Short | Trade is live | ||
| AVERAGE RETURN | 4.36% | 34.9% | -1.01% | ||
| SUCCESS RATE | 57.14% |
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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