Polygon, ApeCoin & Bitcoin — Asian Wrap 12 October

MATIC price fails to break through the upper boundary of the trend channel twice. The rejection occurred at a crucial bearish level on the Relative Strength Index after climbing back from oversold territory. Invalidation of the bearish thesis is a breach above $0.86.

ApeCoin price is currently down 14% for the month of October. The Ethereum-based token witnessed a sharp decline during the start of the second trading week of October, as the bears rejected upward movement from the 8-day Exponential Moving Average.

Bitcoin price is currently trading at $19,100. The bears have breached the 21-day Simple Moving Average (SMA) to start the second week of October. Losing support from the key indicator suggests the current 8% decline is only the start of what’s to come.

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