Market News | Daily Main Token Trends Overview

2023-06-27, 03:15

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

Concise Comment: Bitcoin has recently reached its all-time high in the past year, with a significant increase in volume. There is still a chance for a final upward wave in the quarterly cycle, with price targets at $36,500 and $41,550. It is recommended to maintain a conservative long position if it breaks and stabilizes above the $30,750 level.

BCH

Concise Comment: BCH benefits from being included in the four major cryptocurrencies supported by the Wall Street EDX exchange. The short-term rebound target is $267.17, but it needs to hold the support level at $210.83.

ETH

Concise Comment: It is important to follow the quarterly average strategy. In the short term, there is resistance around $1,936.4, and there is still a need for a pullback. If it holds above the $1,804 level, a sustained upward movement is possible. The long-term strategy should wait for a retest of the $2,000 level before considering a shift from bearish to bullish.

GT

Concise Comment: GT has been a potential dark horse among centralized exchanges this year, leading in terms of price increases among major cryptocurrencies and platform concepts. It ranks among the top three Asian exchanges and still has a relatively low market value. The daily chart shows a large symmetrical triangle pattern, with a bullish long-term target mentioned during live broadcasts. The future outlook is promising. In the short term, it is crucial to hold the $3.9220 level.

BNB

Concise Comment: The four-hour chart of BNB indicates an upward trend as expected. The short-term support level to watch is $230.15, and the initial target is $255.15. Although the rebound volume is still weak, it is important to maintain strong support at $220.20.

EOS

Concise Comment: EOS has reached its all-time high since 2018 at $24.12. The weekly chart has fallen to the lowest level in five years, closing at $0.6226. The next support levels are $0.6045, $0.5530, $0.5156, $0.4900, $0.4623, $0.4314, and a bottom price of $0.3770. A short position strategy with a favorable risk-reward ratio can be considered.

ID

Concise Comment: The four-hour ID chart shows a perfect upward trend, reaching two targets at $0.33200 and $0.36099. The short-term rebound is over, and a continuous pullback is expected. It is crucial to hold the support level at $0.27650. If it doesn’t break, we may see a further upside toward $0.39200.

XRP

Concise Comment: XRP has a bullish moving average configuration, indicating a short-term upward trend. However, the risk outweighs the profit at the moment, so it is important to watch the support level at $0.4750. A strategy with a risk-reward balance can target the final wave at $0.5950, but conservative investors are advised to continue observing. The next support is at $0.4635, with a weak volume.

LTC

Concise Comment: The halving event has concluded, and the bullish trend is losing momentum. It is important to monitor the $81.05 support level closely, and a further upward move can target the resistance at $120.15. In the past week, there has been a pullback to the $90 level, forming a bullish inverse head and shoulders pattern. Strictly maintain the $83.71 support level.

TRX

Concise Comment: The daily chart of TRX shows gradual bottoming, and there is still room for a short-term pullback. Key support levels are $0.07162 and $0.06455, with weekly support at $0.06328. If the volume continues to rise along with the overall market, the targets to watch are $0.09450 and $0.10450.

OKB

Concise Comment: OKB has been a potential star this year, leading the price increase among major cryptocurrencies and platform concepts. The long-term target is $85.27, $128.1, and $170.9, and the ultimate target is $202.5. Please note that this is a “long-term strategy.” The short-term resistance is at $46.95, while the support at $40.35 should be closely monitored.

ADA

Concise Comment: ADA hit a new low on December 28, 2020, at $0.22. The short-term rebound is weak, with resistance at $0.3050. The next crucial support levels are $0.1621 and $0.0893, and it’s worth noting that ADA has a historical record even lower at $0.0176.

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.