As the world of cryptocurrencies holds its breath in anticipation of the Federal Reserve’s announcement, traders remain optimistic about a potential uptrend in the market catalyzed by positive news.

Equities in the United States experienced an uptick following a lower-than-expected Consumer Price Index (CPI) print on June 13. However, Bitcoin and altcoins didn’t mirror this trend, pointing to crypto investors’ focus on industry-specific news over broader economic cues.

Despite the subdued response, bulls have reasons for optimism. Bitcoin, currently valued at $25,068, has maintained its position above the $25,000 support line. MicroStrategy’s co-founder Michael Saylor, in a Bloomberg interview on June 13, suggested that regulatory scrutiny by the Securities and Exchange Commission could benefit Bitcoin. He anticipates Bitcoin’s dominance surging to 80% as the crypto space welcomes substantial institutional investments after regulatory dust settles.

While Saylor’s predictions may reassure Bitcoin bulls, one must remember that MicroStrategy has significant holdings in Bitcoin, which may bias his views.

The Waiting Game for Investors

Investors despise uncertainty and usually prefer a wait-and-see approach until a clearer picture emerges. The crypto markets could follow a similar pattern in the short term. A sustained uptrend is likely only when regulatory clarity is apparent. Amid such ambiguity, it might be prudent for traders to scale back their positions to avoid unnecessary risks.

So, what resistance levels might Bitcoin and other major altcoins face? An exploration of the top 10 cryptocurrencies’ charts might provide some insights.

Bitcoin: A Close Watch on Resistance

Bitcoin approached the 20-day exponential moving average (EMA) of $26,531 on June 13. The long wick on the candlestick, however, indicates selling pressure at higher levels.

Bitcoin’s price has been oscillating between the 20-day EMA and critical support at $25,250 over the past few days, indicating that bulls are buying dips, but bears are maintaining their grip. The descending moving averages suggest that bears have an edge, but the relative strength index (RSI) indicates reducing selling pressure.

If bulls can push the price beyond the 20-day EMA, the BTC/USDT pair may rally to the descending channel’s resistance line. They must surpass this obstacle to kickstart a rally towards $31,000.

Ether: An Impending Breakdown?

Ether (ETH), currently valued at $1,652, exhibits a weak recovery from the robust support level of $1,700, suggesting that higher levels are witnessing weak demand. Consequently, the risk of a breakdown increases.

Thus, bulls must rapidly push the price beyond the moving averages. If successful, the ETH/USDT pair could first ascend to $1,928 and then aim for the overhead resistance at $2,000.

BNB: A Strong Support in Sight

BNB has recently bounced back from the firm support level at $220, indicating that bulls are defending this level aggressively. The BNB/USDT pair has started a recovery, which may encounter stiff resistance at the 38.2% Fibonacci retracement level at $252 and the breakdown level at $265.

XRP: A Precarious Scenario

Despite pushing above the overhead resistance at $0.56 on June 13, XRP’s bulls failed to maintain the momentum, resulting in a rapid downturn and a long wick on the day’s candlestick. The bears are now trying to consolidate their position by pulling the price below the 20-day EMA ($0.50).

ADA: Bears at the Gates

Cardano (ADA) encountered resistance near the breakdown level of $0.30, indicating that bears are guarding this level vehemently. If bulls cannot breach the $0.30 barrier, the ADA/USDT pair might turn bearish and slide towards the support at $0.24.

DOGE: Upside Limited

Dogecoin (DOGE) has managed to remain above the $0.06 level since June 11. However, the bulls’ failure to initiate a significant bounce, and the inability to ascend beyond the 20-day EMA ($0.07), could lead to another selling round by the bears.

SOL: A Balancing Act

Solana (SOL) has been witnessing a fierce battle between bulls and bears around the critical support at $15.28. Bulls are struggling to keep the price above $15.28, but they should find some solace in the fact that they have prevented the SOL/USDT pair from remaining below $15.

MATIC: Stiff Resistance Ahead

Polygon (MATIC) witnessed a severe drop below the support at $0.69, touching the psychologically significant level of $0.50 on June 10. Bulls bought the dip and are trying to initiate a recovery, which may face robust resistance at the breakdown level of $0.69.

LTC: Bears on the Prowl

Litecoin (LTC) declined from the moving averages and plunged below the support line of the symmetrical triangle pattern on June 10, indicating that bears have the upper hand.

DOT: A Hard-Fought Battle

Polkadot (DOT) rebounded off the strong support at $4.22 on June 10, suggesting that bulls are attempting to stem the decline. The relief rally might reach the 20-day EMA ($4.98), where bears are likely to sell aggressively.