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
Following the sharp decline on April 5, the daily RSI is now revealed horizontally below the 70 line, indicating an indecisive market. In the oversold territory, the daily Stochastic RSI is about to cross over the 20 line, signaling a long move.
For the past five days, Cardano has been moving in a sideways trend, ranging between the $0.086 and $0.08 price levels. As reflected on the major 50 MA (yellow band), the band plays along with the straight move.
Ripple nears a solid support area at $0.3 as a rebound is expected to occur if the price drops to this level.
ETH has been following an ascending channel formation for the past two months, but sellers are aiming at the $150 support level.
After hitting $100 on April 3, Litecoin began a lower low, lower high pattern before a low clear cross on the important 50-day moving average (blue line) which reflected a strong bearish dominance from a short-term outlook.
Bitcoin hit $5,300 today with choppy price action. A drop may be witnessed while BTC is trading at the overbought area. Ethereum has managed to climb to the $185 area while struggling to pace along with the BTC move. The reverse is the case for the XRP, as the bears continue to be gaining control of the market with the price still relatively low. XRP has increased by 14.7% in the last months, while BTC and ETH more than doubled this performance with around 35% gains apiece.
2019 has been a positive year so far for most cryptocurrencies, and Litecoin is no exception. The coin’s value has skyrocketed by 185% since January 1, and this bullish reversal is significant on the daily MACD.
For the past two weeks, Bitcoin Cash had been trading within the range of a tight wedge with choppy price action before seeing a significant price surge yesterday.
For the past two days of trading, Monero has been following a bullish move after testing the yellow trend line and leading to a more significant trend. Earlier today, XMR closed on a long wick following the rise-up at the $69 area.
ADA has been following a bullish sentiment after the mid-March break out which drove the token to the current trading price at around $0.069. Before then, ADA was actually trending within the range of a wedge starting from its 2018 low. The bigger picture is clearly revealed on the daily RSI, which is now lying at the overbought area.
