DeXe (DEXE) is in the news today after seeing an explosive 17% rise on the daily charts. This movement confirmed the continuation of its uptrend after a breakout and a successful retest of a descending wedge pattern.
Simply put, momentum could be picking up in the altcoin market.
A breakout of $3.17 opens a clear path to $4
On the daily charts, DeXe price pushed decisively above the $3.17 resistance level – a key area that was a point of interest in AMBCrypto’s previous analysis. This breakout firmly shifts the market structure in favor of the bulls.
The next major area is at the psychological $4 level. A visible liquidity cluster around this area reinforces it as a key area for short-term price action.
If momentum holds, the $4 level will be the natural target on the bulls’ radar.
Source: TradingView
Expansion in trade volume confirms strength
Commercial activity has also increased significantly. According to AMBCrypto’s analysis of derivatives market data, DeXe spot volume jumped 145% to $65 million.
Futures volume also accompanied the rise in spot volume, with spot volume climbing 83% to $6.55 million.
High volume in both markets indicates broad participation. While the intensive capital inflows highlighted the strong magnitude of the rise, they also suggested that this was not a slight breakout as usual.
Source: Coinglass
Open Interest signals institutional positioning
That’s not all, as the DeXe network’s open interest also increased by $1.2 million. At press time, the total stood at $6.40 million.
A rise in open interest alongside price is often a sign of new long positioning among large players. In other words, this rise could illustrate the growing institutional demand in recent days.
Cumulatively, when open interest, spot volume, and futures activity increase together, continuation momentum often amplifies. Most analysts expect the same scenario to impact DeXe’s price action.
Source: Coinglass
What could DeXe have in store for us?
At press time, all key indicators appeared to align with the bullish structure. Technically, the falling wedge breakout was confirmed and the resistance at $3.17 was breached. On the derivatives side, Spot and Futures volumes increased in parallel with the increase in Open Interest.
If the bulls remain in control, the $4.00 liquidity zone becomes the next target. However, failure to maintain volume could lead to a brief correction before the rally resumes.
This means that DeXe currently remains in a strong expansion phase, with momentum favoring further bullish rallies.
Final Summary
- DeXe surged 17% after confirming a falling wedge breakout and breaking through $3.17 resistance.
- The surge in volume and open interest has been consistent with market dynamics, emphasizing the $4.00 liquidity zone.
