Market News | Daily Main Token Trends Overview

2023-08-21, 02:53

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 Comments: Last weekend, the second bottom was formed around $25,606.5 for BTC, and it was suggested to seize a light position for short-term rebound at the $25,606 level. Subsequently, it pulled up to the mid-axis structure at $26,150. This week, we continue to wait for direction. The bullish resistance level to watch is $26,510, while the bearish strategy should be considered if it falls below the previous low at $25,150, targeting down to $24,220.

ETH

Condensed Comments: Last weekend, the second bottom was formed around $1,631.2 for ETH, and it was suggested to seize a light position for short-term rebound at the $1,631.2 level. A clear head and shoulders bottom pattern has emerged in the short-term. Attention is focused on breaking through the $1,694 resistance level. If not broken, it might need to retest the $1,631 support. The significant bottom line to hold is the ascending trend line.

BCH

Condensed Comments: The rebound has weak volume. Continued attention on whether $187.75 for BCH holds as support, with a lower support level at $180.79. If it breaks down, consider a light short position targeting $174.0, $168.86, $165.25, $161.64, and $157.18 sequentially.

BNB

Condensed Comments: Short positions are recommended to be established at $236.12 for BNB, with a target of $221.3. The long-term has reached the lowest point in the past year. In the short-term, it’s forming a converging triangle pattern with weak volume. Watch whether it pulls back to $221.3; a second round of selling may occur, with a downside target of $203.

SEI

Condensed Comments: Short positions are recommended to be established at $0.1668 for SEI, with a target of $0.1535. In the short term, attention still needs to be paid to whether it pulls back to the crucial support at $0.1535. If the downward trend continues, the targets are sequentially $0.1433, $0.1362, $0.1202, and $0.1060.

MC

Condensed Comments: The four-hour chart broke the converging triangle pattern that has been forming for the past year. Last week, the overall market led the decline and retraced precisely to the upper boundary of the convergence. Subsequently, it experienced a second upward move. In the short term, watch whether it stabilizes at $0.3286. There’s a possibility of continuing upwards towards $0.4006 and $0.4513.

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https://www.gate.io/post/AxMRBAQDWVVVBl9QQgO0O0OO0O0O555

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.