Market News | Daily Main Token Trends Overview

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: Bitcoin‘s trend has followed the expected pattern of an initial decline followed by a consolidation phase, confirming the key neckline support at $28.5K USD, as previously mentioned. This morning, Bitcoin’s price successfully completed the pullback, reclaiming the crucial support level at $30K USD. If the short-term maintains stability above $29.5K USD, there is still potential for a target price of $36K USD, with the possibility of an end-of-year uptrend.

ETH

Summary: As the overall market shows signs of breaking support, Ethereum‘s short-term volume remains relatively weak and has not yet recovered above the significant upward trend line. For aggressive short-term traders, it is advised to observe whether Ethereum can regain stability in the upward trend, and if so, consider it as a signal to enter long positions. Conservative short-term strategy suggests waiting for a breakout above $2,037 USD to sustainably target the top resistance at $2,358 USD. It is important to note that the short-term outlook still favors a bearish bias.

CRV

Summary: Curve’s founder, Michael Egorov, has conducted off-exchange trades valued at approximately $12 million USD in CRV, with an average OTC price of around $0.4 USD, subsequently receiving varying amounts of USDT for resolving the liquidation crisis. For short-term CRV traders, the possibility of continuous pullback to $0.558 USD is expected. For those optimistic about CRV, sequential building of positions is suggested at the following yellow ordinal levels: $0.541 USD, $0.527 USD, and $0.517 USD.

WLD

Summary: WLD has shown a short-term reversal from a bottom, forming an ascending triangle pattern, with the bullish strategy strictly following the rising red trendline. For short-term high-risk traders, entering positions on breakthroughs is advised, targeting sequential levels at $2.584 USD, $2.785 USD, and $2.925 USD, with stop-loss set above the rising trendline. Conservative short-term strategy recommends waiting for a breakout above $2.55 USD resistance before entering positions, targeting levels at $2.584 USD, $2.785 USD, and $2.925 USD.

XTZ

Summary: XTZ has firmly held support at $0.806 USD in the short-term and has broken through the resistance at $0.825 USD with strong volume, currently trading at $0.857 USD. Short-term attention should be on whether XTZ can sustain the uptrend and break above $0.860 USD, potentially challenging the key resistance at $0.947 USD, with a wider stop-loss range recommended at $0.846 USD, the previous week’s neckline position.

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