Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.has also been on a long-term downtrend on the charts. In February and March, the price did in fact break the long-term bearish market structure by climbing to the $52 highs. However, the beginning of April saw the altcoin diving lower on the charts.
Toward the end of May, the price was able to advance as high as the $25.3 resistance level. Yet, this rally did not signal a reversal in trend. Rather, it served to add fuel to the bearish fires. A week into June, the $21.6 support level was tested and soon gave way.
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