September was a slightly bullish month for the cryptocurrency market. The pace picked up during the end of the month, especially in the Bitcoin (BTC) price.
While October began with a significant increase, these three bearish cryptos still have a negative outlook, indicating that the worst is yet to come.
Apecoin (APE) Nearly Falls Below $1
The APE price has fallen under a descending resistance trendline since April 12. The trendline has been validated numerous times, most recently on August 14 (red icon).
The rejection accelerated the rate of decrease and led to a new all-time low of $1.06 on September 17. The price has increased since.
Despite the increase, APE has not yet reached the descending resistance trendline. Also, it is trading below the $1.40 horizontal area, which is likely to provide resistance. The fact that the line coincides with the area increases its importance.
The daily RSI does not help to determine the future trend’s direction.
The RSI is a popular metric among traders for gauging momentum and informing their buy or sell decisions on assets. A r
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Author: Valdrin Tahiri
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