Bitcoin Above $77K as Monero Leads, Dash Lags Market up

Key Moments

Macro Backdrop and Market Overview

Bitcoin hovers above $77,000 on Wednesday as renewed US-Iran tensions and a blockade of the Strait of Hormuz weigh on the global economic outlook. The move comes alongside US President Donald Trump’s decision to extend the blockade following faltering peace talks.

Despite this fragile geopolitical backdrop, the broader cryptocurrency complex appears relatively steady. Bitcoin has risen above $77,000 so far on Wednesday, while the overall market has absorbed a period of heightened liquidations and short-term volatility.

Over the past 24 hours, total crypto market liquidations reached $330 million, pointing to a mixed environment for leveraged participants. Within that figure, short liquidations amounted to $197 million, indicating that bearish positions experienced a larger share of the recent wipeout.

Market Liquidations Snapshot

Privacy-focused assets stand out in this environment, with Monero (XMR) and Dash (DASH) leading gains over the last 24 hours.

Monero Extends Recovery Above Key Technical Levels

Monero trades above $380 at press time on Wednesday after posting a 9% advance in the prior session. The privacy token continues to build on its recovery, trading above the 50-, 100-, and 200-day Exponential Moving Averages (EMAs), which are clustered in the mid-$360 area. This configuration supports a constructive short-term technical tone.

Momentum indicators also align with the bullish backdrop. The Relative Strength Index (RSI) on the daily chart holds at 68, near overbought territory, while the Moving Average Convergence Divergence (MACD) line sits firmly above both its signal line and the zero line, pointing to persistent upside pressure.

On the upside, Monero faces initial resistance at the 50% Fibonacci retracement of the broader move from $231 to $798, located at $429. A further obstacle sits near the 38.2% Fibonacci retracement level around $497.

On the downside, the current trading area serves as initial support, reinforced by the 100- and 200-day EMAs near $362. Below that, the 50-day EMA around $349 and the 78.6% Fibonacci retracement at $301 offer additional technical backstops.

XMR/USDT daily price chart.

Dash Struggles Below Major Moving Averages

Dash changes hands around $36.00 at the time of writing on Wednesday, following a 7% gain on Tuesday. Despite that rebound, DASH remains capped below the 100-day and 200-day EMAs, which sit at approximately $38.16 and $39.56, respectively, while the token holds immediate support at the 50-day EMA at $35.80.

The declining slopes of the 100- and 200-day EMAs, coupled with a pattern of lower highs since November, leave attempts to push higher vulnerable to renewed selling interest.

From a momentum standpoint, the MACD line remains below its signal line, reflecting a still-bearish configuration, although the shrinking negative histogram bars indicate some moderation in downside momentum. The RSI sits at 51, suggesting neutral conditions.

On the topside, the initial level to watch is the 100-day EMA near $38.17, followed by a more substantial resistance band at the 200-day EMA around $39.55. On the downside, the 50-day EMA at $35.81 is the first key support. A decisive break below that level would likely open the way toward the S1 Pivot Point at $29.84.

DASH/USDT daily price chart.