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After trading near the $20,000 level for several days, Bitcoin ( BTC ) fell sharply and fell below $19,000 on September 6. The fall was ...


After trading near the $20,000 level for several days, Bitcoin (BTC) fell sharply and fell below $19,000 on September 6. The fall was not limited to cryptocurrency markets, as US stock markets also closed lower on September 6.

Risky assets have come under selling pressure in recent days as investors fear the Federal Reserve will continue its aggressive tightening policy.

FedWatch CME Tool shows that the probability of a 75 basis point rate hike at the September meeting has risen to 80% from 69% a week ago. This prolonged the rise of the US dollar index (DXY), which closed above 110 on September 6.

US stock markets and cryptocurrency markets attempt a relief rally on September 7, but the recovery is only expected to continue after the DXY shows signs of bottoming out.

Daily performance of the cryptocurrency market. Source: Coin360

Although the bear market has been brutal, it is an encouraging sign to see that venture capitalists continued to inject money in cryptocurrency and blockchain companies. According to a KPMG report published on September 6, total investments by these companies in the first half of 2022 reached $14.2 billion, following the record investments of $32.1 billion made in 2021.

What are the critical overhead resistances in Bitcoin and altcoins that need to be cleared for bullish momentum to build? Let’s study the charts of the top 10 cryptocurrencies to find out.