DeXe (DEXE), Chiliz (CHZ), and LayerZero (ZRO) have emerged as some of the strongest-performing cryptocurrencies in the past 24 hours. However, from a technical perspective, the broader altcoin market still carries notable risks as overall sentiment remains weighed down by escalating geopolitical tensions between the United States and Iran.
Meanwhile, Bitcoin (BTC) is trading around $66,000 at the time of writing on Monday, following four consecutive declining sessions. The sharp rise in oil prices — driven by the closure of the Strait of Hormuz and increasing instability in the Middle East — is putting additional pressure on the cryptocurrency market. This development raises the possibility that Bitcoin could lose the key $60,000 support zone, a price base that has held since early February.
Oil Surges Above $100, Increasing Pressure on Bitcoin
U.S. crude oil is trading near $113 per barrel during Monday’s Asian session — the highest level since July 2022 — as geopolitical tensions in the Middle East intensify. Disruptions to shipping activity across critical maritime routes are creating real supply shocks for several Asian economies.
Rising oil prices not only increase inflation risks but could also force central banks to maintain quantitative tightening policies longer than expected. This scenario tends to place additional pressure on risk assets, including cryptocurrencies like Bitcoin.
Under these conditions, Bitcoin is currently trading near $66,000, slightly down from the earlier intraday high of $66,700, indicating that selling pressure has not yet eased. This situation raises the risk of extending the four-day losing streak, particularly after last week’s recovery attempt was rejected near the 50-day EMA around $73,000.
From a technical standpoint, a highly probable scenario is that Bitcoin may revisit the $62,500 support level, a zone established in February. If the price closes decisively below this level, the decline could extend toward the 1.272 Fibonacci extension at $55,360. This level is measured using the trend from the October 6 high at $126,199, the November 21 low at $80,600, and the January 14 high at $97,924.
Momentum Indicators Signal Weakening Bullish Strength
Momentum indicators are also leaning bearish.
RSI currently stands at 43, falling below the neutral threshold after four consecutive down days, reflecting increasing selling pressure.
MACD is hovering slightly below the zero line and appears close to forming a bearish crossover with the signal line, while the histogram continues to narrow — suggesting weakening bullish momentum.
On the bullish side, Bitcoin would need to reclaim the 78.6% Fibonacci retracement level at $68,839 and break above the 50-day EMA near $73,220 to restore a stronger recovery outlook.
DeXe Surges Above $4 With Continued Buying Momentum
DeXe (DEXE) is trading near $4 at the time of writing on Monday, marking a nearly 9% gain on the day and extending the 7% recovery seen on Sunday. The consecutive gains suggest buyers remain active in the market.
From a technical perspective, the short-term outlook for DEXE remains relatively positive as the price holds above the 100-day EMA around $3.59. This alignment indicates the short-term trend still supports the recent bullish structure formed between the $1.7260 low and the $4.2870 high.
However, the 200-day EMA at $5.02 remains above the current price, suggesting that the longer-term trend is only beginning to recover from the previous downtrend and has not yet confirmed a sustainable bullish cycle.
Momentum Indicators Remain Positive
MACD remains above the signal line and continues to hold above zero, with a slightly expanding positive histogram, indicating growing buying pressure.
RSI sits at 73, deep in the overbought territory, suggesting strong bullish control but also highlighting the potential for short-term pullbacks.
If DEXE closes firmly above $4.28, the next key resistance levels may appear at:
200-day EMA: $5.02
1.272 Fibonacci extension: $5.49
On the downside, nearby support zones include:
100-day EMA: $3.59
78.6% Fibonacci retracement: $3.52
Overall, the current technical structure favors bullish momentum in the short term, though the overbought RSI suggests that brief corrections may occur before any continuation higher.
Chiliz Shows Signs of Recovery as Buyers Return
Chiliz (CHZ) is up approximately 3% at the time of writing on Monday, following a 5% rebound during the previous session, indicating modest short-term recovery.
However, the broader technical structure remains cautious. The short-term trend is currently neutral to slightly bearish, as the 50-, 100-, and 200-day EMAs remain above the price and continue sloping downward — a sign that selling pressure has not yet fully dissipated.
Momentum Signals Reflect Market Uncertainty
MACD remains above the signal line and in positive territory, suggesting that buying pressure slightly outweighs selling pressure.
RSI fluctuates around 49, close to the neutral zone, reflecting a lack of clear directional momentum.
To confirm a more sustainable uptrend, CHZ would need to break above the 50% Fibonacci retracement level at $0.04136, measured from the $0.02659 low (Nov 5) to the $0.06424 high (Jan 17).
If this level is successfully reclaimed, the price could extend the recovery toward the 23.6% Fibonacci level at $0.05223.
On the downside, a key support level sits at the 78.6% Fibonacci retracement near $0.03213. A breakdown below this zone could weaken the recovery scenario and increase the risk of retesting the $0.02659 bottom.
LayerZero Approaches $2 Recovery With Potential Golden Cross
LayerZero (ZRO) is currently trading near $2.00, gaining roughly 3% on the day and marking its third consecutive recovery session, indicating that buying interest is gradually returning.
If ZRO manages to break above $2.057, the rally could extend toward $2.599, a resistance level that previously rejected price advances on February 11.
From a technical standpoint, ZRO is currently holding above the 200-day EMA, while the 50-day EMA is trending upward and approaching the 200-day EMA. If these two moving averages cross upward, the market would form a Golden Cross — a signal widely followed by price-action traders, often suggesting strengthening short-term momentum relative to the long-term trend.
Momentum Indicators Support the Recovery Scenario
MACD remains above the signal line with a slightly positive histogram.
RSI stands at 60, indicating steady bullish momentum without entering overbought territory.
If a correction occurs, important support levels for ZRO include:
200-day EMA: $1.789
100-day EMA: $1.745
50-day EMA: $1.700
These levels act as technical buffers that could help maintain the current bullish structure if selling pressure increases.
Trade and Track the Market With Pulse Wallet
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As market conditions shift and traders watch assets like DEXE, CHZ, and ZRO for potential opportunities, having reliable infrastructure to manage funds and interact with DeFi becomes increasingly important.
Pulse Wallet provides a practical gateway to the PulseChain ecosystem, allowing users to stay connected to the market while maintaining full control over their digital assets.
Disclaimer: This article is for informational purposes only and should not be considered financial or investment advice. Cryptocurrency markets are highly volatile and involve significant risk. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions. Pulse Wallet does not provide financial advice and is not responsible for any investment outcomes.