LBank Crypto Market Daily (Mar 16)
BTC
The intraday high of BTC was at 60,741 yesterday and the lowest was at 54,550. It suffered rejection at around 62k, and retraced to 55k for support. Downward correction in the short term is certain. Traders are advised to reduce position when the price is back to around 58k.
ETH
ETH had a daily high of 1,893.5 yesterday and the lowest was at 1,735.0. The relative resistance level was still from 1,900 to 2,000 with a short-term support level at 1,750. Traders are not advised to enter until the market starts improving. In the short term, reducing position when there is a rebound is still recommended.
BCH
The daily high of BCH was 573.0 and lowest was 515.1. The resistance level was at 680 with intense selling pressure and the 520 became the support level. BCH slumped yesterday, and the short-term trend is not optimistic. Traders are advised to close position when there is a rally.
XRP
The daily high of XRP was 0.4493 yesterday with the lowest being 0.4229. The resistance level was 0.4650 with intense selling pressure and the short-term support level was at 0.3900. It’s better to wait and see.
DOT
The daily high of DOT was 38.54 yesterday with the lowest being 33.90. The resistance and support level was 39 and 32 respectively. There would be a downward correction in line with the general market. Traders are advised to close position when rally occurs.
UNI
The daily high of UNI was 31.67 yesterday with the lowest being 29.53. The resistance level was at around 35 with a quite strong support at 29. As pulling back continues, traders are advised to stop loss whenever rally occurs.
LINK
The intraday high of LINK was at 29.48 yesterday and the lowest was at 26.93. It suffered rejection at around 32 amid intense selling pressure, and retraced to 27.50 for short-term support. Though there is a decline as the general market starts to correct, the support is hard to be broken down. Traders are advised to hodl and reduce position at rallies.
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