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A range-break from Bitcoin could trigger buying in ADA, ATOM, FIL and EOS this week

Cryptocurrency Sep 04, 2022 06:20PM ET
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A range-break from Bitcoin could trigger buying in ADA, ATOM, FIL and EOS this week
 
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The decline in the United States equities markets last week extended the market-wide losing streak to three consecutive weeks. The Nasdaq Composite fell for six days in a row for the first time since 2019. The markets negative reaction to a seemingly positive August jobs report suggests that traders are nervous about the Federal Reserve’s future steps and its effects on the economy.

Weakness in the U.S. equities markets pulled Bitcoin (BTC) back below $20,000 on Sept. 2 and bears sustained the price below the level during the weekend. This pulled Bitcoin’s market dominance to just under 39% on Sept. 4, its lowest level since June 2018, according to data from CoinMarketCap.

Crypto market data daily view. Source: Coin360
BTC/USDT daily chart. Source: TradingView
BTC/USDT 4-hour chart. Source: TradingView
ADA/USDT daily chart. Source: TradingView
ADA/USDT 4-hour chart. Source: TradingView
ATOM/USDT daily chart. Source: TradingView
ATOM/USDT 4-hour chart. Source: TradingView
FIL/USDT daily chart. Source: TradingView
FIL/USDT 4-hour chart. Source: TradingView
EOS/USDT daily chart. Source: TradingView
EOS/USDT 4-hour chart. Source: TradingView

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A range-break from Bitcoin could trigger buying in ADA, ATOM, FIL and EOS this week
 

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