DeXe increased by 12% thanks to a cash flow of 350,000 USD: Will the bounce back momentum continue?

The uptrend of DeXe (DEXE) continues to hold a dominant position in the market as this coin recorded a 12% increase in just the past 24 hours. However, amidst the strong recovery wave, investors still cannot help but wonder: does DeXe have enough strength to regain its form after the plummet of 56% last week?

Spot investors support the uptrend

The recent uptrend of DeXe has been reinforced by two consecutive accumulation days, starting from October 31 and continuing to the present. According to data from CoinGlass, during this period, the total buying volume reached approximately 350,000 USD — the highest figure since October 21, indicating that strong capital is returning.

Notably, this net buying occurred alongside a surge in trading volume, as the total market volume skyrocketed to 17.1 million USD, equivalent to a 107% increase compared to the previous day.

Source: CoinGlassThe fact that both price and volume are rising is a clear signal that the upward momentum of DeXe is still being strongly maintained, opening up the possibility of continuing the upward trend in the short term.

However, the current upward momentum is facing challenges as DeXe approaches a key resistance area — a zone that could determine whether the upward trend is reinforced or temporarily halted.

Resistance ahead for DeXe

This resistance zone has formed in the accumulation pattern that DeXe has traded over the past two weeks, starting around October 12th. Typically, such an accumulation phase reflects investors quietly accumulating, preparing for a potential strong breakout in the near future.

If the closing price can rise above this resistance zone, it will be a signal reinforcing the market's optimistic sentiment, indicating that the buying force is strong enough to overwhelm the selling pressure that had previously caused the price to plummet.

Nevertheless, DEXE is still trading about 46% lower than its September peak of 46 USD. This implies that if the current uptrend continues to be maintained, the asset could very well head back to the aforementioned price range.

Source: TradingViewNotably, for investors who bought in since September, the price returning to the 46 USD level will be equivalent to the breakeven point — especially for those who are holding spot positions or have not been liquidated in the derivatives market.

Warning signals for the uptrend

Although the short-term outlook for DEXE still leans towards a positive trend, some technical indicators are signaling that the risk of a pullback may increase.

First of all, the Bollinger Band indicator – consisting of three lines: upper, middle, and lower – indicates that the price is facing a significant resistance level. Typically, the upper band acts as a “price ceiling” that limits upward momentum, while the lower band serves as a support area that helps the price bounce back during corrections. Currently, DEXE has reached the upper band, indicating that the possibility of a short-term correction is entirely plausible.

Source: TradingViewAt the same time, the Parabolic SAR indicator (Stop and Reverse) also issued a sell signal as the SAR dots have moved above the price line — a sign that profit-taking pressure is gradually increasing.

If this trend continues, DEXE is likely to continue fluctuating within the current accumulation range, rather than establishing a new price peak in the short term.

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