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: Today, BTC continues to cling below $30,203 and is currently pulling back towards the $30K level while holding the major support at $29,495. If it doesn’t break below this level, the next two target resistances are $32,235 and $33,085. The top targets are $36,500 and $41,550.
GT
Summary: The daily support for GT is observed at $4.1882, and it has formed a short-term head and shoulders bearish pattern. The medium-term support is at $3.6040, while the major support is still holding at the quarterly trendline convergence, indicating a long-term bullish target at $28.56, $39.15, and $45.05.
MC
Summary: MC broke the resistance at $0.2167 on significant volume. Watch for further upward movement, and if it maintains above $0.2167, the next four target resistances are at $0.2338, $0.2521, $0.2600, and $0.2726.
ARKM
Summary: In the live broadcast, we discussed how to estimate the bottom price and build positions for profit. Using the Fibonacci sequence with 0 as the starting point and 1 as the short-term target, we identified three bottom prices: $0.6245, $0.5920, and $0.5608. We suggested entering the market at $0.5920, which can now be closed for profit.
ETH
Summary: ETH has been repeatedly testing the upward trendline, holding the key support at $1,857. If it breaks below, there might be a larger pullback. Conservative traders can wait for a breakout above the key resistance at $2,036 to enter long positions. The mid-term target is $2,358, and a breakout above $2,036 signals a bullish trend.
BAT
Summary: BAT is showing mean reversion, returning to the upward trend. The pattern is expected to last until the end of July or the beginning of the next month. Utilize a risk-reward strategy to enter at lower levels. The upward targets are at $0.2145, $0.2221, $0.2307, $0.2435, and the top target at $0.2597.
BNB
Summary: BNB retraced and rebounded, challenging the neckline at $246.10. The short-term trend has turned bullish. Pay attention to whether it breaks above the converging support. The first target has been reached at $260.10, and further upward targets are at $267.5 and $285.3.
USD Coin crypto
Summary: COMP’s resistance is at $73.45. The neckline is tilted bearish. Use a risk-reward strategy and short from the neckline position at $73.44 to the target at $64.97, with a risk-reward ratio of approximately 1:4.
BCH
Summary: BCH continues to follow the descending trendline, and there is still room for a bearish move. The short-term resistance is at $256.20, and if it fails to break above, it may signal a bearish move. Utilize a risk-reward strategy and short, with the major resistance at $210.83.
ADA
Summary: ADA retraced back to the $0.3259 green line resistance and bounced back, holding the support at $0.3259. A breakthrough above $0.3436 is needed to continue towards the target at $0.3893.
XRP
Summary: XRP is showing a converging pattern on the four-hour chart, continuing its upward movement. Breaking above the previous high at $0.9380 could lead to further targets at $1.0105, $1.3705, and $1.9755. Pay attention to the key resistance at $0.8639.
ID
Summary: ID is continuing to follow the descending trendline. Watch whether it retests the resistance at $0.3105. Use a risk-reward strategy and exit if it breaks below the bottom at $0.2460. The medium-term targets are at $0.3618, $0.4404, and $0.5250.
LTC
Summary: LTC needs to reclaim the $93.39 level to indicate a short-term bullish trend. The short-term volume is still dominated by bears. If it breaks above $104.02, it could continue to challenge the $126.26 resistance. Hold for further targets at $128.15.
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