Market News | Daily Main Token Trends Overview

2023-08-22, 02:28

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 Commentary: This week continues to await a clear direction. The bullish resistance level to watch is $26,510 USD. There could be a minor short-term rebound. For a bearish strategy, if the price falls below the previous low at $25,150 USD, consider shorting with a target of $24,220 USD.

CYBER

Condensed Commentary: Following the official announcement of listing on a top South Korean exchange, there was a substantial uptrend. In the short-term, it’s important to maintain stability above $5.097 USD. A solid retest at this level offers an excellent accumulation opportunity. Sequential upside targets include $5.307 USD, $5.878 USD, $6.745 USD, and the ultimate target at $8.185 USD.

ASTRA

Condensed Commentary: Last week’s strategy mentioned a significant retracement in the secondary market, with the bottom price aligning closely with the estimated value at $0.00329 USD. This indicates a strong market maker control and alignment with Fibonacci sequence. Downside targets could be attempted with a break below $0.00335 USD, targeting $0.00269 USD.

SEI

Condensed Commentary: Short-term trend still favors a bearish structure. Short positions are recommended to be initiated at $0.1668 USD, with a target at the lower level of $0.1535 USD. If the short-term downtrend continues, subsequent targets are at $0.1433 USD, $0.1362 USD, $0.1202 USD, and $0.1060 USD.

ETH

Condensed Commentary: Pay attention to the resistance at $1,694 USD for a potential breakout. If the breakout fails to hold, a retest of the support at $1,631 USD might be necessary. The key support line represents the critical defense level; a breach might signify the onset of a medium-term bearish trend.

MC

Condensed Commentary: The four-hour chart’s breakout from a year-long converging triangle pattern coincided with last week’s market decline and subsequent retest of the upper boundary. This led to a second upward move. In the short term, maintaining stability above $0.3286 USD could sustain the uptrend, with potential targets at $0.4006 USD and $0.4513 USD.

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Author: W-Strategy

*This article represents only the views of the author and does not constitute any investment suggestions.

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