Dexe is trading in an uptrend, like many other Altcoins. The cryptocurrency DEXE just went up +118% in a single day by breaking a falling wedge pattern with strong buying volume on multiple exchanges and surges over +168% in a week.
What is Dexe?
The DeXe token DEXE claims to enable the open and permissionless system. Following protocol rules and contributing resources facilitates consensus between participants. Automatic buyback and distribution among insurance vault, farming rewards among token holders, and burning of tokens for a % of traders’ rewards.
Dexe Price Analysis
At the time of writing, DEXE is ranked 554th cryptocurrency globally and the current price is A$10.44. This is a +168% increase since 17th July 2021 (7 days ago) as shown in the chart below.
After looking at the above 4-Hour candle chart, we can clearly see that Dexe was trading inside the falling wedge pattern on the DEXE/BUSD pair. The first resistance was on the A$5.22 price levels which Dexe broke with a strong bullish trend buying volume and is now heading towards the previous monthly high price at A$17.84. Seeing that many Altcoins are holding a strong position this week after the recent bitcoin crash recovery, Dexe might continue to increase in the uptrend if the traders keep buying with high volume.
“The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge.”
What Do The Technical Indicators Say?
TradingView indicators (on the 1-day window) mainly suggest DEXE as a Neutral.
So Why Did Dexe Breakout?
General market sentiment seems to suggest cryptos are hopefully turning back bull run season after recent massive price corrections. Another reason for this sudden pump in price could be whales secretly buying Dexe for the next Altcoins rally. Recent news was also announced regarding Binance adding DEXE/USDT trading pair.
If you have conducted extensive due diligence and like the concept of the project, and you feel it can create long-term token holder value, investing in some DEXE coin may be a good move. In addition, if you want to be part of the DeXe DAO, holding DEXE tokens is a must.
Where to Buy or Trade Dexe?
Dexe coin has high liquidity on the Binance exchange which could help for trading DEXE/ETH or DEXE/USDT pairs. however, you can also buy Dexe tokens from other multiple Crypto Exchanges.
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