Market News | Daily Main Token Trends Overview

2023-08-29, 02:42

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: The 4-hour chart shows narrow consolidation and oscillation. Today’s focus should be on whether the $26,510 resistance level is breached, which could potentially form a double bottom pattern. The lower support stands at $25,606, while the major defense line remains at $24,226.

WLD

Concise Commentary: The short-term hit a bottom at $1.193 USD yesterday. Keep an eye on whether the short-term stabilizes and aim for a short-term rebound target of $1.275 USD. On the downside, short positions should target $1.142 USD, $1.090 USD, $1.006 USD, and $0.92 USD in sequence.

OAX

Concise Commentary: The overall 4-hour chart has been declining for the past five months. A special “breakdown and reversal” pattern (highlighted in red) emerged yesterday, followed by a representation of an upswing turning into a downtrend. In the short term, attention should be paid to whether $0.1510 USD holds as a firm breakout, and further advancement would sequentially target $0.1634 USD, $0.1711 USD, and $0.1774 USD.

TRB

Concise Commentary: The short-term has steadied at $12.92 USD, with a chance to challenge the $14.35 USD resistance level for the third time. If broken, it could revisit the previous high of $15.92 USD. A short-term triangular convergence is possible, and Fibonacci retracement levels can be used to set exit targets.

SEI

Concise Commentary: There are signs of a short-term bottom, and the crucial neckline is formed precisely at $0.1290 USD. A potential inverse head and shoulders pattern appeared on the hourly chart, enabling a short-term rebound strategy around $0.13 USD. Short-term targets are $0.1395 USD and $0.1433 USD – quick in and out.

ASTRA

Concise Commentary: Last week positioned at the breakout level of $0.00329 USD, with the highest recorded close at $0.00778 USD. The short term is expected to find support at the midpoint of $0.00458 USD, and not breaking below indicates a continuation to $0.00585 USD. For short-term actions, quick entry and exit are recommended.

DOGE

Concise Commentary: The overall daily chart has been in a downtrend for 835 days, possibly gearing up for significant price action before the year-end. The base price holds at $0.05099 USD. In case of an independent rally, sequential targets are $0.10799 USD, $0.15879 USD, $0.43360 USD, and a new historical high.

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Author: W-Strategy

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