Market News | Daily Main Token Trends Overview

2023-08-11, 01:55

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, if BTC does not fall below $28.5K USD, it still has the potential to form a head and shoulders bottom pattern. A conservative approach suggests entering long positions upon breaking through $30,888 USD or entering short positions if it falls below $28,535 USD, while maintaining the overall structure’s stability along the ascending purple trendline.

MC

Concise Commentary: The four-hour chart has broken through a significant convergence zone, with short-term momentum aiming for a retest of the $0.2870 USD resistance level. Additionally, a short-term “W” bottom pattern has formed, indicating bullish sentiment. A conservative approach recommends entering long positions upon breaking $0.2870 USD, targeting sequentially $0.4040 USD and $0.6140 USD, with stop losses based on the convergence zone.

BAT

Concise Commentary: Short-term moving averages are neatly aligned, and a large ascending triangle pattern has formed over the past 60 days, suggesting potential significant price action in the middle of the month. A breakout strategy can be used to enter long positions, sequentially targeting $0.2221 USD, $0.2307 USD, $0.2435 USD, and $0.26 USD, with a focus on maintaining the uptrend’s major support line.

UNIBOT

Concise Commentary: UNIBOT achieved a historic high at $205.15 USD yesterday, followed by a retracement to the neckline support at $160.20 USD. In the short term, there is potential for a cup and handle pattern formation, with targets at $234 USD, $259 USD, $292 USD, and $335 USD upon successfully retesting the $200 USD resistance level.

WLD

Concise Commentary: Seizing short-term rebounds is deemed an effective strategy, with estimated support at $1.650 USD and $1.586 USD. A rebound is likely following a short-term bottom, targeting sequentially $1.714 USD, $1.745 USD, $1.790 USD, and a peak at $1.845 USD. Quick entry and exit are advised for rebound strategies.

PEPE2

Concise Commentary: Short-term bottoming is observed at $0.001035 (Note: 7 decimal places), with an anticipated rebound wave targeting $0.002015 USD. Short-term advice suggests profit-taking. The upper target of $0.002220 USD remains bearish if no breakthrough occurs.

ASTRA

Concise Commentary: Having dropped 95% from its all-time high of $0.1732 USD, ASTRA continues to breach the crucial support level at $0.01002 USD. The current bottom is situated at the Fibonacci sequence’s 0.382 neckline position, with the bearish target extending to $0.00585 USD and $0.00329 USD upon breaking through.

Please note that the above content contains specialized financial knowledge. Before engaging in any trading activities, it is essential to carefully assess your own risk tolerance.

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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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