Axie Infinity, Polygon & Bitcoin — Asian Wrap 24 Jan

Axie Infinity price is expecting further losses as a death cross is approaching. The governing technical pattern projects a bearish target at $36.73, resulting in a 26% descent. Axie Infinity price has sliced below the lower boundary of the descending parallel channel on the daily chart on January 22.

 

MATIC price has presented a bearish chart formation that suggests a pessimistic narrative for the layer 2 token. An additional 17% plunge may be on the radar for Polygon following a break below a critical level of support. Polygon could drop toward $1.245 before a rebound can be expected.

 

Bitcoin price action has continued to weaken as BTC has dropped below a crucial level of support. The prevailing chart pattern projects another 16% drop for the leading cryptocurrency. The bulls may find it difficult to reverse the period of underperformance as many obstacles may emerge.