DEXE Correction May Offer Buying Chance at $10.92
Key Takeaways
- DEXE is showing a long-term upward trend but is currently in a correction phase.
- A decline to USD 10.92 could present a technical buying opportunity.
- Trading volume is low – a potential warning sign for investors.
- Daily token unlocks are slightly increasing supply but remain low in volume.
Current Price Development of DEXE
Since mid-April, DEXE – the governance token of the DeXe protocol – has seen an 18% increase. The price nearly reached the resistance level at USD 15.75 before undergoing a quick correction on April 23. Much of the gains were given back during this move.
However, the long-term structure remains bullish – meaning upward-trending. The recent pullback could therefore offer a new entry opportunity, provided the price stabilizes at a key support level.
Technical Analysis: Focus on Fibonacci Levels
Technical analysis shows that DEXE’s price movement follows a clear structure. After a strong rally from USD 2.78 to USD 18.33 at the beginning of 2024, a correction followed down to USD 6.10 – the 78.6% Fibonacci retracement level. This was followed by a new rise to USD 24.20 in January 2025.
Currently, DEXE is once again in a correction phase. The Fibonacci analysis of the most recent upward trend shows that the 78.6% retracement lies at USD 10.92. This level has been tested twice in recent weeks. If the price falls back to this level and finds support, it could signal a technical buying opportunity.
Indicators Show Weakness
Despite the potential support at USD 10.92, the technical indicators currently offer little reason for optimism:
- The A/D indicator (Accumulation/Distribution) is showing a slight downward trend – a sign of weak demand.
- The CMF (Chaikin Money Flow) has remained below the +0.05 mark for two months – also indicating a lack of buying pressure.
These signals suggest that buyers are currently acting cautiously.
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Trading Volume as a Risk Factor
Another critical factor is the low trading volume. According to Binance data, the 50-day average daily trading volume of DEXE is around 177,000 tokens, equivalent to approximately USD 2.4 million. In comparison, Ethereum (ETH) averages over USD 1 billion in daily trading volume.
The low volume makes large transactions more difficult and can lead to increased volatility. For traders and investors, this means caution is advised when taking larger positions.
Daily Token Unlocks: No Immediate Pressure
According to CoinMarketCap, 0.02% of the total DEXE supply is unlocked daily. With a total supply of 96.5 million tokens, this amounts to about USD 300,000 per day. For a project with a market capitalization of USD 1.13 billion, this is a manageable figure. However, with low trading volume, noticeable effects can still occur.
Our Assessment
A decline in the DEXE price to USD 10.92 could technically represent a good entry opportunity. The long-term price structure remains positive. However, the low trading volume and weak indicators currently argue against an immediate buying decision.
If you’re considering investing in DEXE, you should closely monitor the area around USD 10.92. Stabilization at this level would be an initial signal. Without clear signs of increasing demand, however, caution is advised.
Sources
- CoinMarketCap
- Binance
- TradingView
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