Market News | Daily Main Token Trends Overview

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: Yesterday, driven by positive news and increased volume, BTC broke through the historical high of the past year. In the short term, it may experience a pullback and find support around $30,888. The upward targets to watch for are $32,235 and $33,085. The top targets are $36,500 and $41,550.

ETH

Condensed Commentary: ETH shows a bullish pattern with a head and shoulders bottom on the daily chart. For aggressive traders, a potential entry point is a pullback to the range of $1,974 to $1,963. For conservative traders, a breakout above the key resistance level of $2,036 is a confirmation for long positions. The medium-term target is around $2,358, and breaking above $2,036 signals a bullish trend.

GT

Condensed Commentary: After a short-term pullback, GT has a chance to break above the previous week’s high of $4.4890 and the upper resistance level at $4.6420. Key levels to watch are $4.1882 as support and $3.6040 as medium-term support. The ultimate targets are $28.5658, $39.1555, and $45.05.

COMP

Condensed Commentary: COMP has not shown significant movements in line with the overall market. In the short term, it remains in a converging triangle pattern. A breakout above the upper structure would indicate a potential move to $98.30, while downside support is seen at $62.50 and major support at $54.82.

BCH

Condensed Commentary: BCH recently broke out of a converging structure on the four-hour chart. It is important to hold the neckline support at $269.08, with resistance levels to watch at $345 and $385. Short-term support levels should be closely monitored, and risk-reward ratios should be considered in trading decisions.

BNB

Condensed Commentary: BNB recently broke above the neckline at $246.10 and attempted to challenge the resistance level at $259.60. Short-term support is recommended at $250.50, with upside targets at $267.50 and $285.3.

ADA

Condensed Commentary: ADA formed a bullish ascending triangle pattern, resulting in significant gains. A short-term retracement could be expected, with support at $0.3435. The upside target is around $0.3893, but taking profits during the consolidation phase is a viable strategy.

XRP

Condensed Commentary: XRP experienced a significant surge this week driven by positive news. In the short term, if the upward momentum continues, the key targets to watch for are $1.0105, $1.3705, and $1.9755.

ID

Condensed Commentary: ID shows a risk-reward strategy with entry points at $0.2515. Short-term attention should be paid to breaking the descending trendline and holding above $0.2515. Profit-taking is recommended after a significant increase of 12.58%.

LTC

Condensed Commentary: LTC completed a bullish head and shoulders pattern, with a target resistance level at $104.02. Monitoring whether it holds above this level is crucial for further upward movement, with targets at $126.26 and $128.15.

TRX

Condensed Commentary: TRX is approaching the breakout level at $0.08016. Short-term targets to watch for are $0.08578 and $0.09222, with support at $0.07510 and $0.07192.

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