Market News | Daily Main Token Trends Overview

17 July 11:08

[//]:content-type-MARKDOWN-DONOT-DELETE
![](https://gimg2.gateimg.com/image/article/1688113830trending%20overview.jpeg)
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: This week, the market continues to experience fluctuations and intense battles between bulls and bears. In the short-term, a possible retracement is expected, with a crucial support at $30,200 USD and a major resistance at $29,495 USD. On the upside, the targets are set at $32,235 USD and $33,085 USD, with top-level targets at $36,500 USD and $41,550 USD.
![](https://gimg2.gateimg.com/image/article/1689563145BTC.png)

## ETH
Concise Commentary: The daily chart shows a bullish head and shoulders pattern. Risk-taking traders should closely monitor the key support level at $1,918 USD, while conservative traders may wait for a breakout above the key resistance at $2,036 USD before entering long positions. The mid-term target is set at $2,358 USD, and a breakout above $2,036 USD indicates a bullish signal.
![](https://gimg2.gateimg.com/image/article/1689563162ETH.png)

## GT
Concise Commentary: In the short-term, attention should be given to the $4.1882 USD level, with a potential breakout towards the previous high at $4.4890 USD, and a higher neckline at $4.6420 USD. The mid-term support is at $3.6040 USD, while the maximum support remains around the quarterly trendline, targeting significant highs at $28.56 USD, $39.15 USD, and $45.05 USD.
![](https://gimg2.gateimg.com/image/article/1689563175GT.png)

## COMP
Concise Commentary: The price has realized gains and losses of 26.52%. There is a possibility of a direct upward move towards the target level of $98.30 USD, with the base at the 0 axis. The upper target is set at $98.30 USD, with the 0.618 Fibonacci level at $83.13 USD serving as a support and the maximum support at $54.82 USD.
![](https://gimg2.gateimg.com/image/article/1689563189OMP.png)

## BCH
Concise Commentary: The four-hour chart shows a converging pattern at the high, indicating a potential demand for a pullback in the short-term. The support levels are at $239.00 USD, and the maximum support is at $210.83 USD. Short-term resistance levels are at $345 USD and $385 USD. The strategy of maintaining stability above support is considered effective.
![](https://gimg2.gateimg.com/image/article/1689563205BCH.png)

## BNB
Concise Commentary: After breaking through the four-hour trendline three times, there is a clear bearish pattern with slanting shoulders at the top. The focus is on whether the price will break below the convergence pattern. The first rebound target at $260.10 USD has been reached, while the lower support at $230.10 USD is holding steady.
![](https://gimg2.gateimg.com/image/article/1689563221BNB.png)

## ADA
Concise Commentary: The ascending triangle pattern has achieved a significant return of 31.88%. The short-term pullback is expected to reach $0.3070 USD. Traders may consider taking profits during the converging wave. The key levels to watch are $0.3070 USD, $0.3259 USD, and $0.3436 USD.
![](https://gimg2.gateimg.com/image/article/1689563236ADA.png)

## XRP
Concise Commentary: After a significant price action, <a href="/th/price/xrp-xrp" target="_blank" class="blog_inner_link">XRP</a> is experiencing a high-level convergence. The current price momentum suggests potential targets at $1.0105 USD, $1.3705 USD, and $1.9755 USD. A shrinking price movement and volume are considered bearish signals.
![](https://gimg2.gateimg.com/image/article/1689563250XRP.png)

## ID
Concise Commentary: The risk-to-reward ratio for this entry strategy is at $0.2515 USD. In the short term, it is touching a large downward trendline. With a gain of 12.58%, it is advisable to consider taking profits. For long positions, waiting for a breakthrough above the major downward trendline is recommended, while a price drop with reduced volume is seen as a bearish signal.

## LTC
Concise Commentary: The short-term trend has seen multiple converging necklines, with strong bearish resistance at $104.02 USD. To sustain bullish momentum, LTC needs to stabilize above this level and challenge the $126.26 USD resistance. If it continues to hold, the upper target is set at $128.15 USD.

## TRX
Concise Commentary: The four-hour chart indicates a bearish triangular pattern, and the short-term target of $0.08016 USD has been achieved. A possible pullback is expected, with support levels at $0.07510 USD and $0.07192 USD.

For more details, please follow W-Strategy | post account:
https://www.gate.io/post/AxMRBAQDWVVVBl9QQgO0O0OO0O0O555

<div class="blog-details-info">
<div>Author: **W-Strategy**
<div class="info-tips">\*This article represents only the views of the author and does not constitute any investment suggestions.
<div>\*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.
</div>

ETH/USDT + 3.93%

BTC/USDT + 10.69%

ADA/USDT + 0.01%

XRP/USDT + 3.03%

BCH/USDT + 4.04%

BNB/USDT + 3.40%

LTC/USDT + 2.62%

ID/USDT -0.37%

TRX/USDT + 1.73%

GT/USDT + 3.56%

COMP/USDT + 3.35%

XVG/USDT + 5.71%

BTC

BCH

ETH

XVG

BNB

XRP

LTC

TRX

ADA

COMP

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