The market-wide crypto rally is starting to lose steam as traders digest the poor earnings estimates from big tech companies and fear over next week’s FOMC begins to impact investor sentiment.
What are the critical support and resistance levels to watch out for? Let’s study the charts of the top-10 cryptocurrencies to find out.Bitcoin has been witnessing a see-saw battle near $22,800. The bears want to stall the up-move at this level but the bulls are not willing to surrender.The rising 20-day exponential moving average and the relative strength index in the overbought zone suggest that bulls have the upper hand.
If the price turns down from the current level and breaks below $22,292, it could trigger the stops of several short-term traders. That could intensify selling and the BTC/USDT pair could dive to $21,480. If the price rebounds off this level, the bulls will again try to resume the up-move. The short-term trend may turn bearish below $20,400.
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