Azeez Mustapha, Publisher at CoinCodex
Azeez is a technical analyst, specializing in cryptocurrency markets. With a deep understanding of technical indicators and market psychology, Azeez began his journey in the crypto world in 2019. His expertise lies in dissecting complex market patterns and translating them into clear, understandable forecasts and trading signals for his readers.
Azeez Mustapha Latest Articles
It has been a quite impressive performance for Bitcoin in the past five days as the leading cryptocurrency made a significant move to $9,400 yesterday, marking a new high for 2019. The recent positive move can be attributed to the June 13 surge above the $8,000. The bullish scenario was revealed on both the daily RSI and the Stochastic RSI.
For the past two months, Monero has been following a bullish sentiment as the cryptocurrency trades within an ascending channel. After testing $100 in late May, Monero's price dropped to the $80 area, where the lower channel lies.
BNB has continued to perform impressively since the token began the positive move from around $5 just before December last year. In May, Binance Coin established a new all-time high at $38.8 before retracing to $29 earlier this month. The token has now leveled up trading close to the $33.8.
Since May 16, Stellar has turned downward after recording price at the $0.16, testing the upper wedge before closing on a reversal candle (inverted pin bar) which has led to the current bearish scenario in the market. The XLM price is now steady around the $0.122 level.
The XRP market has now tested the lower channel following the recent bearish scenario in the entire crypto space. As a result of this, XRP is now trading at around $0.387. Furthermore, the selling pressure may meet support at the $0.36 level, where the 50-day moving average rests. If the market rebounds, the buyers may find close resistance at $0.42.
After climbing from $0.1 in February, BAT followed a bearish scenario after touching the $0.5 level on April 21. Yesterday, the market neared the $0.3 support level, but the action has been more positive today. This is a small bullish sign which may become more impressive if the rest of the cryptocurrency market also plays along and produces more bullish momentum.
ATOM followed a bullish reversal pattern after establishing an all-time low at $3. The cryptocurrency has been trading in an ascending channel, which touched $7.2 on Monday. The ATOM price has since dropped and the coin is currently trading around the $6 level. The market has gained approximately 32% in the past seven days of trading
Ripple appeared to be forming a double-top pattern after breaking the $0.40 level last two weeks which has now become a support for the market. Looking at the price action, the XRP pressure has been solidly held by the 10-day moving average (yellow) for the past three days. In a real-time, Ripple’s XRP is trading at around $0.43.
Tezos has dramatically climbed from $0.4 in the last two months after forming an ascending broadening wedge which has risen the market to the $1.82 before witnessing a decline that is now approaching the lower boundary of the wedge. Currently, XTZ is trading at around $1.44.
Earlier this month, Litecoin resumed a positive rally after the April bear market which brought the token’s price to a low at $70 before the market picks up to the monthly high at $120, trading around the $117 as of the time of writing.
