DeXe (DEXE) continued to attract attention after rising nearly 45% in the past months, as the chain’s activity reached record highs on several levels. According to SentimentDaily Active Addresses increased significantly to 298, showing the strong participation of the network since its inception.
The growth of the network also increased to 86 new wallets, which is the highest number since December 2020 and shows the introduction of new users. The whale’s performance was boosted along with his participation in the trade, with eighteen sales exceeding $100,000 and setting other records. This is related to the long DEXE rally rather than just the appearance of spikes.
In addition, reports indicate that more tokens have left the exchange, fueling the surge. As a result, participation in the network is strongly related to the performance of the tree, strengthening the confidence that the real expansion of the ecosystem has contributed to the progress that is being made.
Why did top Binance traders remain so short?
Despite the DEXE’s steady strength, top Binance traders continued to bet cautiously on recent developments.
At press time, CoinGlass analytics showed only 24.62% of top trading accounts held long positions, while 75.38% held short positions. The imbalance left the long/short ratio at just 0.33, indicating that professional traders have not fully embraced the ongoing rally.
However, DEXE continued to experience high prices despite continuing to stabilize. Such divergences usually indicate skepticism rather than rapid selling as the price remains firm while bearish bets falter.
If buyers continue to bear this pressure, a short-term stoppage could increase the chance of additional upside through a short-term pressure curve. However, sustained buying interest would still need to outpace new sales before sentiment changed.
Can DEXE remove its next barrier?
DEX it approached major resistance near $24.61 after retracing the $19.77 level with a strong weekly candle. TThen its main target stood near $30, which represented the main resistance seen on the weekly chart.
At the time of writing, the MACD continued to support the bullish trend as the MACD line remained above the signal line while all indicators rose to positive territory. Although the histogram decreased slightly, the bullish momentum remained stable rather than reversing.
Therefore, buyers maintained control as long as DEXE maintained support around $19.77. A break from that level could indicate a deeper pull to $13.81. However, a performance above the current support would create an open channel to retest the barrier of $24.61 before the move to $30.
DEXE coins show strong certainty
OI-Weighted Funding Rates remained positive throughout the month of June after recovering from a couple of weak quarterly rates. The latest reading stood at 0.0059%, confirming that income traders are still paying more to maintain long positions.
Good money alone would not guarantee further gains. However, it showed confidence that consumers continue to support higher prices even if they are sometimes inconsistent. Fund growth in early June also coincided with the continued recovery of the DEXE, indicating that participation has increased in value.
As long as the income remains good without reaching a high level, the legal environment can continue to support the existing one instead of showing exhaustion quickly.
Does web event recording support DEXE assembly?
On-chain participation strengthened the case behind the DEXE conference as user activity, whaling, and network growth all reached exceptional levels.
Prices were once again above major support as technical indicators continued to favor buyers. If DEXE breaks $24.61 with sustained demand, the rally may go beyond $30 resistance.
Brief Summary
- Record user activity and whale activity continued, promoting the DEXE conference despite its short-term spread.
- DEXE held above major support, leaving $24.6 resistance as a major price test.
