DEXE Rebounds from $8.50 Support – Bulls Eye $11 to Squeeze Shorts

After testing the $8.50 floor, DEXE shows signs of bullish momentum. Traders now watch for a potential push toward $11—a level that could force bearish positions into painful territory.

Will the rally hold, or is this just another fakeout to lure overeager longs? Only time will tell—though in crypto, 'time' usually means 'about 15 minutes of patience.'

Source: TradingView

On the daily chart, DeXe Price action indicates a potential invalidation of the previous breakdown, with the possibility that the decline could be a bear trap.

Whales are buying into weakness

On-chain data supports this bullish reversal thesis.

According to CryptoQuant, whale-sized Futures Average Order Size surged during the recovery phase. These large orders clustered right NEAR the zone of the breakdown.

Historically, such whale-pegged movements have resulted in momentum rallies. If history tends to repeat itself, DEXE could get enough momentum to rally past the broken pennant support level.

Source: CryptoQuant

Overhead liquidity could initiate further price surges

AMBCrypto close analysis on the CoinGlass market liquidity data shows close groupings of liquidity just above the current trading range.

In the past, such groupings acted as a magnet to pull the token prices up, as a result, attracting short-term activity.

In DEXE’s case, this setup presumes a likely continuation of the bullish rally. Traders and investors alike are probably wanting to tap into this overhead liquidity, especially if current bullish momentum can be sustained.

Combined with whale support, this is a good setup for bulls to push further higher.

Source: CoinGlass

DEXE bulls might regain pennant zone

If the price can move back into the pennant zone, it has the potential to trigger a flip in market structure. This WOULD confirm the bullish reversal and set DEXE up to make a fresh local high.

As the larger market remains cautious, the technical and on-chain metrics of DeXe indicate a potential continuation of the bullish rally.