LBank Crypto Market Daily（Mar 8）
BTC
The intraday high of BTC was at 51,255 yesterday and the lowest is at 47,120. It suffered rejection at around 52,500 amid intense selling pressure, and retraced to 47k where support was weak. On Sunday, the price continued to rise, the short term trend generally shows a reversal just as at the beginning of last week . The green line was in a uptrend yesterday, but suffered rejection as not taking down the hurdle. It is not advised to enter in a short term until the price break out the resistance level. While if rejected again, closing position is recommended. According to the short term trend, there is a high risk of tying up.
ETH
The daily high of ETH was 1,634.7 yesterday, with the lowest being 1,528.1. There is a relatively strong resistance level at 1,750 in a short term and a comparatively strong support level at 1,550. The expected diverge recently will help the price to rise. However, it is still not advised to enter as the price is under strong pressure and cannot taking down the hurdle yet. There were six trades yesterday transferring a total number of 425,000 ETHs to the exchange address. Selling at rallies is still recommended.
BCH
The daily high of BCH was at 515.8 yesterday with the lowest being 483.8. There was a relatively strong resistance level at 550, and the support level was around 480. There was a marginal decline on the weekend but reversed again to above 500 on Sunday in line with the whole crypto market. The short-term market will still be turbulent and depends on the whole market performance, which if taking down the hurdle, will affect the short-term market to rise, when investors can buy a small amount of position. If not, close the position.
XRP
XRP had a daily of 0.4690 with the lowest being 0.4501. There were a huge tie-up at around 0.5000 and the support level was at 0.3900 in a short term. XRP neither rose nor getting worse on the weekend when the whole market rebounded. Traders can still hold position and sell limit at rallies if the hurdles cannot be taken down.
DOT
Yesterday’s intraday high of DOT was 35.20 and the lowest was 32.30, with a short term resistance level at near 42 above and the support level being 32. It rebounded at last weekends in line with the whole market and the current trend is rising in turbulence. It is hard to surpass the previous rebound highs until the whole market takes down the hurdles, before which it is still recommended to sell limit despite of the rebound on Sunday.
UNI
The daily high of UNI was 32.16 with the lowest being 27.64. The expected short-time resistance level would be 36 and the support level was around 30.5. The reversal on Sunday was beyond expectations and hit a new ATH. However, it is still recommended to sell limit at rallies rather to enter as the driving force is weaker than than previous.
LINK
The daily high of LINK was at 29.12 yesterday and the lowest is at 26.73. It suffered rejection at around 35 amid intense selling pressure, and retraced to 27 where support was weak. The overall trend follows the whole reversing trend and the price bottom is rising though not strong. It is expected a further rise in the short term driven by the general market. However, it is still advised to sell position at rallies as the resistance level has not been taken down.
