BTC, ETH, BNB, XRP, LUNA, SOL, ADA, AVAX, DOT, DOGE

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The fairness markets in Europe and the US are seeing a sea of crimson as merchants proceed to promote dangerous belongings as a result of geopolitical state of affairs. Bitcoin (BTC) and a number of other main cryptocurrencies are additionally witnessing profit-booking after the latest rise. 

One more reason that could possibly be maintaining buyers on the sting is the upcoming Federal Open Market Committee (FOMC) assembly on March 16. A press release from Fed hair Jerome Powell on March 2 highlighted that the central bank is likely to hike rates this month.

Fitch Scores chief economist Brian Coulton expects core inflation to remain high in 2022 and the Fed to spice up the “Fed fund fee to three% by the top of 2022.”

Day by day cryptocurrency market efficiency. Supply: Coin360

ExoAlpha managing associate and chief funding officer David Lifchitz stated that Bitcoin could stay mushy within the brief time period as a result of a fee hike by the Fed technically “strengthens” the U.S. greenback and therefore, “weakens” Bitcoin. Nonetheless, he does not expect a drastic impact on Bitcoin.

A number of uncertainties may cap the rallies to the upside within the brief time period. Let’s analyze the charts of the top-10 cryptocurrencies to identify the vital help and resistance ranges.