Market News | Daily Main Token Trends Overview

2023-08-25, 02:12

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 daily chart shows a rebound in trading volume hitting the short-term average, followed by a rapid drop back to the $26,000 USD level. The secondary market structure still leans towards a seller’s market. In the short term, attention should be given to whether the $25,606 USD support holds. It is anticipated that today’s trading will continue to oscillate within the range of $25,606 USD to $26,975 USD.

ETH

Summary: After bottoming out twice within the upward trend, a rebound occurred towards the key resistance at $1,694 USD, followed by four attempts to break through the $1,700 USD threshold. The overall market still maintains the central structure around $1,658 USD, indicating a bearish trend. The major support level has shifted down to $1,610 USD.

DOGE

Summary: The daily chart has been in a significant downtrend for 835 days. The end of this downtrend is expected around October 15, 2023, possibly leading to a substantial trend change before the year ends. With the base price holding steady at $0.05099 USD, the potential independent trends could target: $0.10799 USD, $0.15879 USD, $0.43360 USD, and new historical highs.

ASTRA

Summary: The overall market has dropped from its historical high of $0.18 USD to the current level of $0.00385 USD, marking a maximum decline of -97.86%. The four-hour chart is attempting to stabilize around the base price of $0.00295 USD, showing a potential bullish inverse head and shoulders pattern. A tactical approach of short-term rebounds is suggested for quick entry and exit.

LTC

Summary: This week, it was mentioned that the four-hour chart could exhibit a rare “Wave and Pivot” pattern. In the short term, the support level at $64.56 USD continues to hold, while the upper resistance lies at $70.95 USD. The ongoing downtrend may continue towards the yellow trendline, indicating a medium-term consolidation within a range.

SEI

Summary: A strategy of maintaining high-level short positions continues. The week’s targets are set at lower levels of $0.1535 USD and $0.1433 USD for short positions. In the short term, if the price breaks below the previous low of $0.1433 USD, subsequent targets are: $0.1362 USD, $0.1290 USD, $0.1202 USD, and $0.1060 USD.

POGAI

Summary: The strategy of maintaining high-level short positions remains. A conservative short-term approach suggests waiting for a second bottom around $0.000043382 USD before shorting, with targets set at $0.000036966 USD and $0.000028765 USD. This tactical approach of maintaining high-level positions based on risk-reward ratio remains as the major support level stabilizes at $0.000053950 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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