- DeXe is struttin’ its bullish stuff over the long haul.
- Meanwhile, trading volume is so low it might as well be a ghost town, and daily token unlocks keep whispering “buyer beware.”
From April 15th to April 22nd, DeXe [DEXE] decided to show off, boosting itself by a sprightly 18%, eyeing the $15.75 resistance like a hungry kid eyeing the last cookie on the plate.
But, as if hit by the cold slap of reality (or bad coffee), it promptly reversed on April 23rd, erasing almost all that week’s gains faster than you can say “what just happened?”
This governance token—think of it as the mayor of the DeXe protocol town—slowly drips out its supply: 0.02% daily unlock on a massive 96.5 million tokens, according to CoinMarketCap. That $300k daily arrival on the scene is hardly a bustling street party for a $1.13 billion asset.
And speaking of bustling, trading volume? That’s a bit like comparing a quiet book club to a stadium concert. The 50-day moving average on Binance clocks in at 177k DEXE, roughly $2.4 million. Ethereum [ETH], meanwhile, is rocking 593.93k ETH worth a cool $1.04 billion. Party’s on the other side, folks.
DeXe may just be tossing out a “buy me” signal… or is it?
Early 2024 saw DeXe shoot from $2.78 to an eye-watering $18.33. It looked like a magnificent escape from bear market jail. After catching its breath, it slid back to $6.10 — the 78.6% Fibonacci retracement level, no less — before springing back up to $24.20 by January 2025.
December and January witnessed the token getting a little cocky, only to be put in its place by the 23.6% extension resistance at $22. Since then, it’s been playing the patient retracement game, stubbornly clinging to its bullish framework.
Our trusty 1-day chart lays out another Fibonacci retracement map of the late 2024 rally. The tale it tells: a 78.6% retracement level resting at $10.92, a spot DeXe flirted with twice in the past month, seemingly just to keep things interesting.
If history prepares its usual déjà vu party, a bounce off $10.92 might just be your signal to jump in. But before you grab your wallet, the daily charts tell a slightly grumpy story. The A/D indicator is trending downward like a sad trombone, meaning buyer enthusiasm is lagging.
The CMF? It’s been sulking below +0.05 for two whole months—a subtle hint that buyers aren’t exactly racing to the checkout lane.
In conclusion: yes, a dip might look like a bargain buffet if you trust the charts. But low trading volume is the party pooper here. So approach with caution, or just bring snacks and enjoy the show 🍿.
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2025-04-25 04:13