DeXe (DEXE) has experienced a notable price rally, surging 12% in the past 24 hours, prompting scrutiny into whether this momentum can reverse the significant 56% losses incurred last week. While strong indicators suggest bullish sentiment, critical technical signals are simultaneously flashing warnings for a potential slowdown.
Fueling the DeXe Rally
The recent bullish surge for DeXe is primarily driven by significant spot accumulation and a dramatic increase in market volume. Over two days, approximately $350,000 worth of DEXE was purchased, marking the most substantial buy-in since late October. This strong accumulation coincided with an impressive 107% spike in market volume, reaching $17.10 million. These combined factors indicate robust underlying demand and suggest that the upward momentum could be sustained, potentially pushing the asset toward its September high of $46, a crucial breakeven point for early investors.
Navigating Resistance and Technical Warnings
Despite the positive indicators, DeXe is currently confronting a key resistance zone that forms part of a two-week consolidation pattern. While such patterns often precede an upside breakout, several technical signals suggest caution. The asset has traded into the upper band of the Bollinger Bands, a common resistance level that typically precedes a price decline. Furthermore, the Parabolic SAR has issued a bearish warning, with its dots forming above the price, signaling building selling pressure. These technical hurdles imply that DEXE might struggle to break out of its current consolidation range and could face renewed downward pressure, challenging the continuation of its upward trajectory.
