Market News | Daily Main Token Trends Overview

2023-06-29, 03:13

The article is reprinted from the daily market overview of W-Strategy who is a guest streamer of Gate.io, a senior strategy analyst of cryptocurrency, and the founder of Wcollege. The article will analyze daily main token trends, short-term strategies, and long-term strategies for you in 3 minutes.

*The article is the original content of W-Strategy. Gate.io is only for reprint and distribution, and the copyright belongs to the author himself.

BTC

Condensed Commentary: Bitcoin has recently reached its all-time high in the past year, with a significant increase in trading volume. There is still a chance for a final upward wave in the quarterly cycle, targeting two key levels at $36,500 and $41,550. A conservative long position is recommended if there is a solid breakthrough and stability above the $30,750 level.

BCH

Condensed Commentary: BCH has shown strength as one of the leading cryptocurrencies due to the support from the EDX exchange, which includes BCH as one of the four major currencies. The immediate resistance level is at $267.17, and the short-term downside is supported around $210.83.

ETH

Condensed Commentary: It is important to adhere to the quarterly average strategy. Ethereum briefly tested the support at $1,821.59 and is currently holding above the $1,804 level. The long-term strategy should wait for a retest of the $2,000 level before considering a shift from bearish to bullish.

GT

Condensed Commentary: GT is one of the top three exchanges in Asia and currently has a relatively low market value. The daily chart shows a large symmetrical triangle pattern, indicating the potential for a bullish breakout. The long-term target will be discussed in the live broadcast. In the short term, the support level to watch is $3.9220.

BNB

Condensed Commentary: BNB experienced a pullback to the $224.60 level on the 4-hour chart, and the rebound volume remains weak. It is crucial to maintain stability above the strong support at $220.20. If the price breaks below, the next target could be around $206.10.

EOS

Condensed Commentary: EOS has fallen to a five-year low on the weekly chart, closing at $0.6226. The following support levels are suggested: $0.6045, $0.5530, $0.5156, $0.4900, $0.4623, $0.4314, and a bottom target at $0.3770. It is advised to continue uting a short strategy with a strict risk-reward ratio.

ID

Condensed Commentary: The short-term rebound has ended, and a continued decline is expected. The key support level to watch is $0.26195, with the bottom support at $0.24922. It is estimated that there will be ongoing oscillations and a gradual decline. For the long-term strategy, it is important to strictly maintain stability above $0.24922.

XRP

Condensed Commentary: XRP has approached the ascending trendline on the 4-hour chart. It is crucial to monitor whether the price will break below the large-scale ascending trend. If it breaks below, it is recommended to exercise caution. The key support level below is $0.4379.

LTC

Condensed Commentary: The bullish trend in Litecoin has weakened after the halving event. It is important to closely monitor the $80.68 support level. If the price continues to hold above it, the next resistance target is $120.15. In the past week, there has been a pullback to the $90 level, and it is crucial to maintain stability above $83.71 in the short term.

TRX

Condensed Commentary: TRX is gradually building a base on the daily chart, but there is still room for a short-term pullback. The support levels to watch are $0.07162 and $0.06455, while the weekly support lies at $0.06328. If the trading volume continues to increase along with the broader market, there is a chance to test the resistance levels at $0.09450 and $0.10450.

ADA

Condensed Commentary: ADA continues to test the $0.2544 support level, with weak rebound momentum. The resistance target of $0.3050 has been reached, and the key support levels below are $0.1621 and $0.0893. Remember that ADA has historically reached a low of $0.0176.

For more details, please follow W-Strategy | post account:
https://www.gate.io/post/AxMRBAQDWVVVBl9QQgO0O0OO0O0O555

Author: W-Strategy

*This article represents only the views of the author and does not constitute any investment suggestions.

*The article’s content is original and the copyright belongs to the author. If reprinting is required, please indicate the author and source. In all cases, legal action will be taken due to copyright infringement.