LBank Crypto Market Daily（Mar 9）
The intraday high of BTC was at 51,838 yesterday and the lowest is at 49,240. It suffered rejection at around 52,500 amid intense selling pressure, and retraced to 49k where support was weak. Turbulence on the top continues and the bottom keeps lifting despite the selling pressure at the resistance level. The demand from institutional purchase is weak in the short term. It’s highly possible that the BTC will pull up again and make a breakthrough after the turbulence. Since there is no actual sign yet, we can wait and see.
The daily high of ETH was 1,754.6 yesterday with the lowest being 1,633.4. There was a heavy selling pressure at the range from 1,900 to 2,000 , a relatively strong resistance level in the short term. The support level was at 1,650, quite strong also. The short-term performance of ETH is stronger than the general market, which was still in correction and turbulence under the resistance level when ETH has broken through. Though the price is quite high, many traders are tied up near the previous high, and it is still difficult to continue the rapid rise after the short term breakthrough. Hence, selling at rallies is still advised.
BCH had a daily high of 526.6 with the lowest being 500.3. The resistance level was around 550 with relatively high selling pressure and the support level was at 480. The market is obviously weak since the slump at the end of February. Currently, it is advised to hold a small amount of positions and sell stop if get resistance again.
The daily high of XRP was 0.4900 yesterday with the lowest being 0.4551. The resistance and support level was at 0.5000 and 0.3900 respectively. It is recommended that traders holding a position to wait and see.
The daily high of DOT was 35.55 yesterday with the lowest being 33.4. The resistance and support level was at 36.50 and 32 respectively. If the price consolidates at above 36, chances are that it will rise again. If not, it is recommended to sell at rallies.
The daily high of UNI was 34.89 yesterday with the lowest being 30.74. The resistance and support level was at around 36 and 30.5 respectively. It hit a new high with the general market getting stronger. However, it is not advised to buy now as the general market has not taking down the hurdles yet.
The intraday high of LINK was at 30.80 yesterday and the lowest is at 27.37. It suffered rejection at around 35 amid intense selling pressure, and retraced to 27 where support was weak. It is still recommended to sell at rallies unless there is a clear sign of breaking down the resistance level.