The article is reprinted from the daily market overview of W-Strategy who is a guest streamer of Gate, 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 is only for reprint and distribution, and the copyright belongs to the author himself.
BTC
Summary: Intraday funding remains weak, leaving the market undecided about its direction. There is a possibility of a downward move to test the major uptrend. If adopting a bullish approach, close attention should be paid to the purple uptrend line. Breaking below this trend line could signal the end of this year’s rebound rally. The next support level is at $28,535 USD.
WLD
Summary: Short-term positions have already gained 31.51%, holding at $2.205 USD and $1.845 USD. If the upward trend continues, the next targets are $2.584 USD, $2.785 USD, and $3.350 USD, forming a short-term rising trend.
LINK
Summary: The short-term four-hour chart broke through the support at $7.5195 USD and stabilized above $7.6991 USD, continuing its upward movement. Attention should be given to whether it can break the previous high of $8.38 USD with significant volume. Failure to break this level could result in a bearish reversal.
ETH
Summary: In the short-term, there is consolidation and oscillation around $1,857 USD. It is advisable to watch if the upward trend can hold above this level. In the medium to long-term, if it fails to rebound and stabilize above $2,037 USD, the overall structure remains bearish.
BCH
Summary: Despite the short-term W-bottom bullish signal, overall volume remains weak, and it continues to trend downwards, touching the descending trendline. The short-term resistance is at $256.20 USD. Utilize a risk-reward strategy for short positions, with a major support level at $210.83 USD.
BNB
Summary: The four-hour chart is attempting to break out after forming a converging triangle pattern. Until it stabilizes above $246.0 USD, the short-term trend remains bearish. Support should be observed at $230.1 USD, with a major defense level at $221.3 USD.
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