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
Concise Comment: The four-hour chart continues to test convergence below, with multiple unsuccessful short-term pullbacks. It is waiting for a new pullback above the convergence level. The upward target remains unchanged at $32,235 and $33,085. The top target is $36,500 and $41,550.
ETH
Concise Comment: Short-term stability around the $1,857 level, with an estimated continuous challenge of the $1.9K level. Morning pullback to $1,880 with continued volume contraction and convergence. Long-term strategy awaits a retest of the $2,000 level for the midterm trend to shift from bearish to bullish.
GT
Concise Comment: One of the top three exchanges in Asia, the daily chart shows a large symmetrical triangle pattern, indicating a promising long-term bull market. The short-term trend shows a clear bullish pattern, with the opportunity to retest the $4.45 level and find support at $4.1882.
COMP
Concise Comment: Today, it broke through the upper boundary of the large symmetrical triangle pattern, and a successful breakout above indicates a higher chance of reaching the target of $98.30. The lower support level is expected to hold at $60.20, with a major support at $54.82.
BCH
Concise Comment: Breaking out of the symmetrical triangle pattern, it continues to test the key resistance level at $269.08, reaching the upper boundary of the convergence in the morning. The bounce targets are $345 and $385. Short-term strategy depends on the convergence pattern to determine the direction.
BNB
Concise Comment: The four-hour chart shows a continuous convergence with the support of news. Short-term breakthrough above the convergence level, waiting for an increase in volume to retest the key resistance level at $267.1. The daily chart also forms a symmetrical triangle pattern, which should be monitored closely.
ADA
Concise Comment: The four-hour chart has tested the $0.2797 support level multiple times and continues to challenge the upper resistance level at $0.3050. The market is in an ascending triangle pattern, waiting for a breakthrough to target the neck resistance at $0.3269. The key support levels are $0.220 and $0.209.
XRP
Concise Comment: In the short term, there is a demand for a pullback. The market is still within a large symmetrical triangle pattern this week, with a monthly chart forming a head and shoulders bottom pattern. Once there is significant movement, there is a chance to challenge the historical high at $3.3355. The resistance levels are $0.5840 and the support is at $0.4379.
ID
Concise Comment: The support level at $0.2505 is holding, and it is expected to continue oscillating and gradually rise. For the long-term strategy, strict support at $0.24922 should be maintained, and a rebound to challenge $0.39364 is possible. Operating strategies can be implemented using the mentioned risk-reward ratio in the live broadcast.
LTC
Concise Comment: The short-term potential head and shoulders pattern should be monitored for a possible retest of the $104.02 level. If it pulls back, the bullish trend will continue to target the $126.26 level, and a continued hold can lead to a test of the $128.15 resistance level.
TRX
Concise Comment: The four-hour chart broke below and declined. The short-term target of $0.07747 has been achieved. The support levels below are at $0.07510 and $0.07192.
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