Market News | Daily Main Token Trends Overview

2023-08-31, 01:51

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 Summary: Despite being influenced by grayscale news this week, it only resulted in a minor rebound. Yesterday, it hit the neckline at 27,283 US dollars and fell back again, indicating that the overall market still views it with a bearish perspective. It is estimated that the monthly closing will be around 26,975 US dollars.

CYBER

Condensed Summary: Last week’s strategy involved sequential positions at $4,100, $3,933, and $3,783 respectively, followed by a substantial market performance. With the target of $17.79 as indicated by the “仙人指路” pattern and the rapid and aggressive upward movement by DWF market makers, it is not difficult to imagine that there might be a final wave of market performance in the short term.

We’ve mentioned before that having such accurate target levels in the secondary market suggests that market makers are highly concentrated in their trading, similar to how they operate in the spot market and contract market harvesting. CYBER is no exception.

For short-term long positions, it’s advised to hold steady at the support level of $8.185, and a conservative approach would be to wait for a breakthrough of the recent high at $8.980 to enter with additional positions. Four resistance levels are: $10.479, $11.883, $13.019, and $14.152. Three upward targets are: $12.277, $15.62, and the peak target of $17.79.

WLD

Condensed Summary: This week, a short-term bottom was established at $1.109, followed by a significant rebound wave. The upper target of $1.383 has been touched during the rebound, and there’s an expectation for the short-term to continue moving downward. Support levels for the downside are $1.090 and $0.925.

SEI

Condensed Summary: The short-term rebound trend is expected to end, and for bullish strategies, it’s recommended to hold steady at $0.1433. If this level is maintained, there’s a chance for a continued upward movement. Conversely, if it falls below, a light short position could be considered with targets at $0.1362 and $0.1278.

DOGE

Condensed Summary: The overall daily trend has been in a substantial downtrend for 835 days, and a significant market performance is anticipated before the end of the year. Holding steady at the support level of $0.05099, if an independent trend emerges, sequential upward targets are expected at $0.10799, $0.15879, $0.43360, and a new historical high.

For more details, please follow W-Strategy | post account:
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.