Bitcoin traded near the $77,000 threshold on Monday following a 3 percent pullback that was initially sparked by inflation concerns voiced by Kevin Warsh on Friday. Despite this cooling trend, the overall sentiment in the digital asset market remains risk-on, supported by a Crypto Fear and Greed Index reading of 73. Meanwhile, decentralized exchange tokens such as Uniswap and PancakeSwap managed to maintain their gains over the preceding 24-hour period, emerging among the top performers in the broader market.
Technical Indicators and Moving Averages
Bitcoin changed hands at $77,730 on Monday, maintaining a clear bullish bias as the price held firmly above the 78.6 percent retracement level of the downward swing from $82,850 to $57,800, which sits at $76,706. The leading cryptocurrency also remained positioned above both the 50-day Exponential Moving Average at $69,675 and the 200-day Exponential Moving Average at $72,630. Momentum indicators showed some easing of bullish pressure, with the Moving Average Convergence Divergence histogram displaying a waning profile that risks crossing below its signal line. Concurrently, the Relative Strength Index drifted down to 69 from the overbought zone, suggesting that overextended momentum is beginning to cool.
Key Support and Resistance Levels
For the primary cryptocurrency to resume a sustained upward trajectory, it must clear the overhead resistance at $82,850, which would open a path toward the 127.2 percent Fibonacci extension level at $91,374. On the downside, initial support is established at the recently reclaimed 78.6 percent retracement level of $77,489, followed by a deeper demand cluster anchored by the 200-day EMA at $72,630 and the 50 percent retracement level at $69,200.
Uniswap Sustains Short-Term Gains
Uniswap traded above the $5.00 mark on Monday, successfully sustaining a 9 percent gain accumulated over the previous day. UNI maintained a constructive near-term bullish bias as the asset held above the converging 50-day and 200-day exponential moving averages at $3.94 and $4.04 respectively, hinting at the potential formation of a Golden Cross. Market momentum for the token remained robust, with the MACD and its signal line extending in a positive slope while the RSI hovered at 71 inside the overbought territory, pointing to persistent buying pressure. The immediate resistance level for UNI aligns with the 127.2 percent Fibonacci extension of the $2.31 to $4.57 upward swing, located at $5.50, with a confirmed breakout potentially targeting the 161.8 percent extension at $6.97.
PancakeSwap Forms Flag Pattern
PancakeSwap hovered around $1.8100, maintaining a near-term bullish structure by staying well above its 50-day EMA at $1.5487 and 200-day EMA at $1.5561. This alignment of moving averages points toward a potential Golden Cross amid an ongoing trend reversal. Constructive momentum was reflected in the MACD line staying above zero alongside an RSI reading near 72, signaling strong buying interest coupled with emerging overbought conditions. From a technical chart perspective, CAKE has carved out a flag pattern on the daily timeframe as prices consolidate between $1.6770 and $1.8570 following a 32 percent rally earlier in the month. A decisive breakout above $1.8570 could extend the rally by another 32 percent toward $2.4600, whereas a corrective drop below $1.6770 might invalidate the pattern and direct prices toward the moving average supports where buyers are expected to defend the structure.
Broader Market Dynamics and ETF Inflows
Ripple continued its lock-step trading pattern for a third consecutive session on Friday as crucial support around $1.40 came under mounting pressure. The remittance-focused token has largely remained on the defensive ever since its substantial 72 percent rally from $1.00 to highs near $1.70 earlier. Bitcoin remained subdued below the $80,000 threshold on Friday following a second unsuccessful attempt to breach overhead resistance between $81,000 and $82,000. Ethereum and Ripple mirrored this cooling trend, with ETH sliding to $2,500 and XRP dipping toward the $1.40 support mark. Despite these pullbacks, Bitcoin registered a weekly gain of over 2 percent after testing its 50-week Simple Moving Average at $81,114, while US-listed spot Bitcoin exchange-traded funds remained on track for consecutive weeks of billion-dollar inflows, accumulating $1.13 billion through Thursday.
