Michael Fasogbon, Publisher at CoinCodex
Michael Fasogbon Latest Articles
On April 21, Basic Attention Token began to follow a downward spiral after marking a yearly high at almost $0.5. The BAT market is still following a falling wedge pattern that has been in effect for the last 4 months.
From $25, the price of NEO has seriously dropped by 60% since the beginning of the second half of the year, bringing the market to mid-term support at $10, where it's currently trading around the wedge's lower boundary. At the moment, the $10 is still bolstering as support for the market for the second time.
Ripple's XRP has continued to remain on a downward spiral following the July bear market that made the market to roll back to the $0.29 -$0.28, the 2018 demand zone. Yesterday, XRP retested this zone again after a five days price reduction. Now, the market has managed to bounce back a bit above the $0.030 which has been long-term controversial support for this trade.
As one of the best performing cryptocurrencies of 2019, Binance Coin has demonstrated a stunning performance in the first half of the year. Now, the market has remained in a bearish condition since June 22 after marking $39.59 as the current yearly high.
In mid-May, the Tezos market saw a serious decline which made the token to drop to its long-term support at $0.08. After testing the above support, the token saw a trend reversal which allows the market to now see a two-week correcting gain of about 55%.
Litecoin is still trading below the $100 level after the July 20 price rejection which continued to position the market in a downtrend. Litecoin is currently trading at around $89 after recording a weekly low at the $83.3 mark over the weekend.
Litecoin is still on the downside as per the major correction ahead of its halving which is coming up in August. The price actions have carved a falling broadening wedge formation following the June reversal that caused the market to drop below the $100, amounting to about 45% loss during the past four weeks decline.
After two months of trading in a channel boundary, Ripple has finally broken down from a tight range between $0.38 and $0.5 which stalled the market in an indecisive condition. Having established a low at the $0.31 area yesterday, the market closed around the $0.32 price level following a reaction from the buyers.
Starting from $0.4 in early March, Tezos followed a significant positive move, causing XTZ to climb to $1.85 before declining. Now, XTZ is maintaining a falling channel formation as we can see on the daily chart.
WAVES market has been subdued with choppy price action over the past five months, subjecting the market on a side-way movement. As a result, we can record a low liquidity inflow and a quite inactive and non-volatile market.
