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
After the breakout two weeks ago, IOTA has remained trading below the $0.45 until yesterday’s surge in volatility which paced up the price at $0.5 before dropping. At the moment, the token trades at around the $0.47 price level, lying at the horizon of the 70 level of the daily RSI. The market appeared to be facing rejection at the $0.5 level.
Since on May 15, the XRP market reached its peak at the $0.46 price level. From the price action, the market fell to the support of the EMAs which indicates that price was in the bullish trend zone.
Cardano's structural outlook still appears to be following a bullish scenario as the price actions continues to build above the blue trend line, which has been a defensive line for the bull market since the beginning of the rise-up in pre-December. With the daily RSI above the 50 level, we can say that ADA bulls are in control of the market.
Looking at the long-term trend, DOGE can be considered unhealthy at the moment due to the last 24-hour bearish surge which has dropped its price to the support area of $0.0025. Despite this, the DOGE market is currently sitting above the 100-day moving average (orange line).
After dropping to the $0.25 support in February, IOTA carved an ascending broadening wedge formation as the price bars remained within the wedge boundaries ever since. Today, the market opened above the wedge and attempted to break away, which was rejected after testing the $0.47 level.
From a long-term perspective, XLM has been revealed as resuming a positive move.
So far, the price of XRP has remained substantially low amidst due to low trade trading. In fact, the recent rise in Bitcoin’s dominance is shrinking the value of many altcoins.
Ethereum has finally successfully breached the important $180 resistance turned support, which was a tough area for the bulls for over a month.
Since January 1, the price of Ethereum had been trading below the $160 resistance level before it was broken by the bulls on April 2. On April 8, the crypto's price had risen to a high at $181 price level but the bulls were resisted at the $181 resistance zone. The crypto's price fell to the support of the 26-day EMA to commence a range bound movement.
For the past four months, NEO has been following a bullish sentiment climbing on a higher high, higher low pattern. As of today, it is clear on the chart that the NEO price action has been bound in an ascending broadening wedge, acting as support and resistance levels for the market.
