Bitcoin Holds Above Key Support as DEX Tokens Outperform

Key Moments

Bitcoin Stabilizes After Pullback

Bitcoin (BTC) consolidates around $77,000 on Monday after a roughly 3% decline on Friday that was linked to inflation concerns raised by Kevin Warsh. Despite the setback, the broader technical structure remains constructive, supported by ongoing risk-on sentiment in the crypto market.

BTC is changing hands at $77,730 on Monday, maintaining monthly gains of more than 20%. The price is currently holding above the 78.6% Fibonacci retracement of the $82,850 to $57,800 decline, with that retracement level located at $76,706. This area is acting as a key support zone for the ongoing uptrend.

Bitcoin is also trading above both the 50-day Exponential Moving Average (EMA) at $69,675 and the 200-day EMA at $72,630, reinforcing the prevailing bullish bias.

Market Sentiment and Technical Signals

According to CoinMarketCap, the Fear and Greed Index has slipped to 73 from 82 last week. This shift indicates that, while risk appetite remains elevated, the market is stepping back slightly from extreme optimism as worries about higher Federal Reserve interest rates persist.

Momentum indicators suggest that bullish pressure is moderating. The Moving Average Convergence Divergence (MACD) is at risk of crossing below its signal line, with the histogram profile showing signs of fading momentum. In parallel, the Relative Strength Index (RSI) has retreated to 69 from overbought territory, signaling that previously stretched conditions are beginning to normalize.

For upside continuation, Bitcoin needs to decisively break above resistance at $82,850. A successful move beyond that level would open the way for a potential advance toward the 127.2% Fibonacci extension at $91,374.

On the downside, initial support lies at the recently reclaimed 78.6% retracement at $77,489. Below that, a broader demand area is clustered around the 200-day EMA at $72,630 and the 50% retracement at $69,200, which may act as a secondary support zone.

DEX Tokens Lead with Strong Momentum

Decentralized exchange (DEX) tokens are among the standout performers over the last 24 hours, with Uniswap (UNI) and PancakeSwap (CAKE) both extending gains and maintaining bullish technical structures.

Uniswap (UNI) Sustains Breakout

Uniswap is trading above $5.00 as of Monday, retaining a 9% advance from the previous day. UNI continues to show a positive near-term outlook as the price remains above the converging 50-day and 200-day EMAs, currently at $3.94 and $4.04 respectively. This configuration points toward a potential Golden Cross setup.

Momentum for UNI stays constructive. The MACD and its signal line are both trending higher with a positive slope, while the RSI stands at 71, hovering in overbought territory and reflecting persistent buying pressure.

Immediate resistance is aligned with the 127.2% Fibonacci extension of the $2.31 to $4.57 advance, situated at $5.50. A sustained breakout above $5.50 would expose the 161.8% Fibonacci extension level at $6.97 as the next upside objective.

On the downside, first support appears near the prior Fibonacci anchor around $4.57. Below that, a dense support zone emerges in the $4.04–$3.95 range, where the 200-day EMA, the 23.6% retracement, and the 50-day EMA converge.

PancakeSwap (CAKE) Consolidates After Sharp Rally

PancakeSwap is trading around $1.8100 on Monday and maintains a constructive near-term tone. The token is well above its 50-day EMA at $1.5487 and 200-day EMA at $1.5561, a structure that points to a developing Golden Cross within an emerging bullish reversal trend.

Momentum indicators remain favorable. The MACD and signal line are moving higher above the zero line, and the RSI is near 72, indicating strong buying interest alongside a developing overbought condition.

From a chart perspective, CAKE is forming a flag pattern on the daily timeframe, consolidating in a range between $1.6770 and $1.8570 after posting a 32% rally earlier in the month. A confirmed breakout above $1.8570 would imply potential for another 32% advance, targeting $2.4600.

Conversely, a break below $1.6770 would negate the bullish flag formation and could refocus price action toward the 50-day and 200-day EMAs at $1.5561 and $1.5487, where buyers may look to defend the broader positive structure.