Market News | Daily Main Token Trends Overview

2023-07-13, 03:57

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

Summary: The four-hour chart continues to test convergence on the downside. In the short term, it is crucial to maintain support at $30,213. The trading volume has been slightly insufficient in the past 24 hours. The upside targets remain unchanged at $32,235 and $33,085. The top target is $36,500 and $41,550.

ETH

Summary: The four-hour chart shows a potential head and shoulders top pattern. Currently, it is expected to continue testing the $1,857 level, with a brief dip to $1,870 in the morning. Short-term trading volume remains low. The long-term strategy should wait for a pullback to the $2,000 level before considering a shift from bearish to bullish.

GT

Summary: The four-hour chart shows a potential head and shoulders top pattern. The neckline should be monitored at $4.1882, with a medium-term support line at $3.6040. The maximum support line is still holding at the quarterly level. The major bullish targets are $28.5658, $39.1555, and $45.05.

COMP

Summary: The price has continued to rise within a convergence pattern, with a potential breakout above. A successful breakout would indicate a softer structure and could lead to a direct target of $98.30. The lower support level has moved up to $62.50, and the maximum support line is at $54.82.

BCH

Summary: The four-hour chart shows convergence at a high level, with a successful breakout and subsequent retest. In the short term, it is important to maintain the neckline at $269.08. The resistance levels to watch for are $345 and $385. It is crucial to continue monitoring the support levels and utilize a risk-reward ratio strategy.

BNB

Summary: The four-hour chart shows decreasing trading volume, with a breakout followed by a volume spike and a subsequent pullback within the convergence range. It is currently attached below the convergence upper boundary. In the short term, it is important to observe the volume at the end of the convergence. It is recommended to wait for a clear price action direction.

ADA

Summary: The four-hour chart still requires close monitoring of the $0.2797 support level, with continued challenges to the $0.3050 resistance level. The price is still within a converging triangle pattern. A breakout above $0.3269 would indicate a potential upward movement. The key support levels below are $0.220 and $0.209.

XRP

Summary: In the short term, it is important to continue observing the major ascending triangle pattern. The “time mapping” technique can be used to assess whether the current price is relatively low. If considered low, it is advisable to buy and target the inertia rally level at $0.5840. The resistance level above is $0.4414.

ID

Summary: In the short term, it is advisable to set a stop-loss at $0.2505. If still participating, a maximum support line can be set at $0.2459. The risk-reward ratio strategy can still be effective, but the trading volume continues to decline. It is important to monitor whether the maximum support line is breached.

LTC

Summary: In the short term, Litecoin is still forming a head and shoulders bottom pattern. The $93.39 level should be maintained, and attention should be given to a potential pullback to the $104.02 level. A successful pullback could lead to a continued bullish trend targeting $126.26. For long-term holding, the price could reach $128.15.

TRX

Summary: The four-hour chart shows a breakdown and decline. The short-term resistance at $0.07747 has been reached, and the support levels below are at $0.07510 and $0.07192.

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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.