
Is DeXe On The Verge of a Major Bounce? Find Out Why $10.92 could be Your Perfect Buying Opportunity!
2025-04-25
Author: Charlotte
DeXe, a rising star in the crypto market, remains bullish for the long haul, but recent trading activity raises eyebrows for new investors.
Despite an impressive 18% surge from April 15 to April 22, driving it towards the critical resistance level of $15.75, DeXe faced a sharp reversal the very next day. In a matter of hours, much of the prior week’s gains were wiped out.
Currently, DeXe's governance token is experiencing daily unlocks of 0.02% from its total supply of 96.5 million DEXE, which amounts to about $300,000—a modest figure for a coin with a market cap of $1.13 billion.
However, the trading volume tells a different story. The average daily trading volume on Binance stands at around 177,000 DEXE, valued at $2.4 million, while Ethereum trades a staggering 593,930 ETH for $1.04 billion daily.
Brace Yourself for a Potential Buying Spree!
Flashback to early 2024: DeXe skyrocketed from $2.78 to $18.33, signaling a clear break from the bearish trend. It hit a rough patch, retracing to $6.1, but then forged ahead to $24.2 by January 2025.
Interestingly, the token faced resistance at the 23.6% extension level near $22 during December and January and has been in a corrective phase ever since. Yet, the long-term outlook remains bright.
Technical analysis using the daily chart reveals critical Fibonacci retracement levels, pinpointing $10.92 as the key 78.6% level. DeXe has nearly tested this price point twice in the past month—a strong indicator of potential future support.
If history has a say, a successful retest of $10.92 could signal a juicy buying opportunity for investors. However, the current technical indicators are less than promising. The Accumulation/Distribution (A/D) indicator is in a slow downturn, indicating lackluster demand, while the Chaikin Money Flow (CMF) has struggled to break the +0.05 mark for two months, revealing ongoing buyer weakness.
In conclusion, while a dip to $10.92 might present an excellent buying opportunity from a technical standpoint, the low trading volume signals caution for prospective buyers. Keep your eyes peeled—this could be one to watch!