Market News | Daily Main Token Trends Overview

2023-07-25, 02:58

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 Commentary: In the short term, the price dropped below $29.5K USD with increased trading volume. The next support to watch is at $28,535 USD, and there is a possibility of a retracement in the larger uptrend. For the bullish strategy, it is advisable to monitor the purple trendline; a break below it might signal the end of this year’s rebound trend. The key support level to hold is at $28,535 USD.

ETH

Concise Commentary: In the short term, the trend has broken below the first support of the upward structure, and yesterday it saw a significant volume drop below $1,857 USD support. The bearish strategy suggests waiting for a rebound to $1,857 USD to initiate a short position targeting $1,755 USD. The short-term trend is bearish-oriented.

UNIBOT

Concise Commentary: In the short term, it may continue to decline along with the broader market. Pay close attention to the strong support at $103.03 USD. If there’s a sustained upward movement, the next targets are $213.18 USD, $289.19 USD, and $336.16 USD in sequence.

BNB

Concise Commentary: As expected, there was a false breakout followed by a real move downward. The short-term outlook indicates a converging triangle, and it’s crucial to hold the strong support at $220.10 USD. If it breaks below $220.10 USD, it’s advised to exit all positions to hedge.

COMP

Concise Commentary: The bearish target is from $69.18 USD down to $62.82 USD, and the bearish strategy may consider taking profits. In the short term, if it breaks below the critical support at $64.97 USD, it’s expected that this wave of rebound might come to an end, and the next support to watch is at $54.82 USD.

XRP

Concise Commentary: Keep an eye on the 4-hour chart with a focus on $0.6811 USD. In the short term, the downtrend continues, and if the bearish strategy is considered, a break below $0.6811 USD could lead to further downside towards $0.6459 USD.

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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.