Market News | Daily Main Token Trends Overview

2023-07-31, 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

Summary: Over the past week, BTC has been continuously clinging to the support level at $29,500 USD and the bullish strategy is waiting for a breakthrough at $30,888 USD to initiate long positions, with the top target set at $36,000 USD. The bearish scenario might test the uptrend by pulling back towards the support at $28,500 USD.

ETH

Summary: Over the past week, ETH has maintained support at $1,857 USD and shows an intention to stay within the upward trend. In the short term, attention should be paid to potential pullbacks to the trend line. A conservative bullish approach would be to wait for a breakthrough at $2,037 USD to enter positions with a profit target at $2,358 USD, using a risk-reward ratio strategy.

where to buy eth

Summary: Negative factors in the secondary market led to a significant downturn in CRV. The next support levels to watch are $0.558 USD, $0.477 USD, and $0.405 USD, with the latter estimated to form a very strong support.

WLD

Summary: In the short term, there is a possibility of a clear ascending triangle pattern forming. A conservative bullish approach suggests waiting for a breakthrough at $2.55 USD to enter positions, with the following targets: $2.785 USD, $3.35 USD, and a top target of $4.3 USD.

COMP

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Summary: In the short term, the four-hour chart is showing a bullish head and shoulders pattern. If the bullish trend continues, the next targets to watch are $80.45 USD, $85.90 USD, and $98.3 USD. A risk-reward ratio strategy can be employed for breakthrough operations.

OPIUM

Summary: In the short term, OPIUM has broken through the triangle pattern, and there is a possibility of a bottom reversal towards $0.15782 USD and $0.21268 USD. In the long term, the price is still approximately 31,050% (nearly 310 times) away from its historical high, making it suitable for low-level accumulation with a small position.

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.