Cryptocurrency Market Stalls on Monday After Mild Rebound

The cryptocurrency market experienced a brief surge following last week's crash linked to US Jobs data release, which had triggered concerns about a potential rate hike.

However, this rebound appears to have stalled as some coins are still under bearish pressure. According to CoinGlass data, $665 million was liquidated over the past 24 hours, with $528 million in short liquidations.

Zcash, which had led the recovery, hovers above its 100-day Exponential Moving Average (EMA) at $428 but remains capped beneath the 50-day EMA at $485. A decisive close above this zone could test the 50-day EMA at $485, followed by the $500 psychological threshold.

Bittensor is also showing a bearish bias as its price remains below the 50-day, 100-day, and 200-day EMAs. Ethereum continues to maintain a clear bearish trend after collapsing beneath its major EMAs, with initial resistance emerging at the February 6 low of $1,747.