Market News | Daily Main Token Trends Overview

2023-08-01, 02:57

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: At the end of the month, BTC opened at $29.2K, exhibiting a bearish trend with a weak volume of funds within the market. The short-term outlook remains bearish with a clear head-and-shoulders pattern, and a bearish strategy is suggested, waiting for a retracement to $28.5K and the purple trendline.

ETH

Concise Commentary: ETH’s opening at the beginning of the month broke below the neckline at $1,857, and in the short-term, attention is focused on whether it will drop back to $1,833. If it does, the head-and-shoulders pattern will be confirmed, and it might continue downwards towards the target of $1,755. The short-term trend is bearish.

CRV

Concise Commentary: CRV continues to face negative factors, resulting in a crash in the secondary market. The first target at $0.558 has been breached. Those who shorted at $0.608 should watch for further targets at $0.541, $0.527, $0.517, and strong support at $0.477.

WLD

Concise Commentary: WLD exhibited a short-term rising triangle pattern, but it later broke downwards, reaching the support level at $2.205. In the short term, the next support levels are at $2.0204, $1.845, $1.791, $1.727, and $1.624.

COMP

Concise Commentary: COMP is experiencing a deceptive market with both bulls and bears active. A clear short-term head-and-shoulders pattern has formed, and attention should be paid to whether it breaks below the major support level. The next support levels are at $54.82 and $44.70, and the head-and-shoulders pattern is expected to continue downwards.

BALD

Concise Commentary: BALD saw a sharp rise of 15,050% since opening, fitting the pattern of five Waves and three ascents, with a breakout at the high point and subsequent reversal. This has led to a sharp decline in various ecos, including Bald, Ink, and Ladys.

In conclusion, they want your profit, and you want their investment. Apart from reviewing contract taxes, token issuance, and locked liquidity pools, it is advisable to adopt quick in-and-out strategies in the Chain’s gold-dog market to avoid potential losses.

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.