DEXE Skyrockets: Traders Flock to Critical Breakout Zone as Altcoin Steals the Spotlight
Move over, blue-chips—DeXe's (DEXE) parabolic surge just hijacked the crypto headlines. The decentralized protocol's token isn't just outperforming majors; it's rewriting the playbook for altseason momentum.
The Breakout Bait
Chartists are glued to DEXE's make-or-break resistance level like Wall Street bankers to a Bloomberg terminal. A clean breakout here could trigger FOMO inflows—or become another 'buy the rumor, sell the news' graveyard for retail bagholders.
Decentralized Dominance
While TradFi institutions keep tripping over their own KYC paperwork, DeXe's governance model keeps raking in defection capital. The irony? A token designed to democratize trading is now making centralized exchanges sweat.
One thing's clear: in a market obsessed with ETF flows and Fed whispers, DEXE just dropped a reminder that crypto's real alpha still lives on-chain—until the next shiny thing distracts everyone tomorrow.
Traders Bet Big on DEXE
Readings from the DEXE/USD one-day chart show that the altcoin has consistently moved higher since August 3. Trading at $8.31 at press time, its value has since climbed by 15%, with key momentum indicators hinting at strengthening buy-side pressure.
For example, DEXE’s double-digit rally has pushed its price above the Leading Span A (green) and Span B (yellow) of its Ichimoku Cloud.
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As of this writing, the Leading Spans A and B have flipped into dynamic support levels at $7.64 and $7.21, respectively, which may serve as crucial floors for DEXE’s price in the coming sessions.
When an asset trades above its Ichimoku Cloud, it signals a strong bullish trend and upward momentum. It indicates positive market sentiment, and the asset may continue rising if it holds above that support zone.
Furthermore, in the derivatives market, DEXE’s funding rate has remained positive since July 20, highlighting growing confidence among futures traders. At press time, this is at 0.0048%.
The funding rate is a recurring fee exchanged between long and short traders in perpetual futures contracts. It is designed to keep the contract price in line with the spot market.
When it is positive, long traders dominate the market and are paying those who hold short positions, indicating bullish market sentiment.
DEXE’s consistently positive funding rate indicates that traders remain firmly bullish on the token, maintaining their conviction even amid broader market volatility.
Will $9.04 Crack or Will $6.73 Come First?
DEXE currently hangs below the resistance at $9.04. If demand soars and bullish bias increases, a breach of this level is possible in the NEAR term. If this happens, the token’s price could rally toward $9.45.
Converesly, if the bears regain dominance, they could trigger a DeXe Price dip to $6.73.
