- Alas, DEXE has met with a most unfortunate fate, as its fortunes have taken a nosedive.
- Yet, in a twist of irony, traders continue to flock to this beleaguered asset, as if it were a rare delicacy.
In the span of a mere 24 hours, DeXe [DEXE] has ascended to the esteemed position of the market’s most tragic figure, suffering a decline of over 17%. This calamity, it seems, is the result of a fickle market sentiment, which has turned its back on our dear DEXE.
Yet, amidst the chaos, DEXE has displayed a curious resilience, as if it were a noble warrior standing firm against the tide of sellers. Indeed, the astute analysts at AMBCrypto have ventured to predict the future of this asset, as if they were seers gazing into a crystal ball.
Volume spikes and accumulation trends
In the last 24 hours, DEXE has faced a veritable storm of selling pressure, which has reverberated throughout the market. This sharp decline, akin to a tragic play, was propelled by a surge in trading volume, as if the audience were clamoring for more drama.
As I pen these words, DEXE’s trading volume has skyrocketed by an astonishing 763%, reaching a staggering $168.4 million. Historical data suggests that such price declines, when accompanied by a surge in volume, often herald further misfortune. Oh, the irony!
Simultaneously, the key metrics of DEXE have begun to weaken, as if they were the very pillars of a crumbling edifice. The Open Interest and the Long-to-Short ratio have both taken a tumble, revealing the waning commitment of traders.
Open Interest, that measure of unsettled contracts in the derivatives market, has plummeted by 10.21% to $55.64 million, a clear indication that traders are losing faith in this once-promising asset.
Further analysis confirms that the selling pressure has been matched by a high selling volume, which continues to rise, as if the market were a relentless tide.
On the charts, the Long-to-Short ratio reveals that a staggering 50.39% of the total derivatives volume is now in the hands of short traders, as if they were the cunning foxes in a henhouse.
The rising volume against a backdrop of price decline, coupled with a slight tilt in favor of long traders, suggests that the market may yet plunge further into the abyss.
Rate holds bullish — Can it last?
And yet, despite the ongoing descent into despair, the market sentiment clings to a semblance of bullishness, as if it were a candle flickering in the wind.
Data reveals that the market’s Open Interest-Weighted Funding Rate remains positive, with a current reading of 0.0035%. However, this positivity is but a fragile facade, as the rate has been trending lower, signaling a weakening sentiment for DEXE.
Should the funding rate turn negative, the selling pressure could intensify, pushing our dear DEXE further into the depths of despair.
Meanwhile, a curious phenomenon has emerged: traders have continued to accumulate DEXE for three consecutive days, as if they were collecting rare stamps.
Thus far, this intrepid group has purchased approximately $400,000 worth of DEXE. One can only hope that this sustained accumulation will prevent the asset from plummeting into an even deeper abyss.
Further downside for DEXE?
Finally, an analysis of the Liquidation Heatmap suggests that further decline is not merely possible, but likely for DEXE. Large liquidity clusters remain positioned below the current price, as if they were sirens luring the shipwrecked to their doom.
One such high-liquidity zone lies just above the $8.5-level, implying that the price may gravitate towards this point, for liquidity clusters often attract price action like moths to a flame.
Read More
- DOT PREDICTION. DOT cryptocurrency
- AAVE PREDICTION. AAVE cryptocurrency
- Gold Rate Forecast
- USD PHP PREDICTION
- USD TRY PREDICTION
- USD CAD PREDICTION
- Silver Rate Forecast
- XDC PREDICTION. XDC cryptocurrency
- Brent Oil Forecast
- USD THB PREDICTION
2025-06-10 01:19