Support test at $29.7. Can DeXe avoid deeper losses?

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DeXe drops 8.07% to $33.75 today

Highlights

DEXE/USD faces persistent short- and medium-term selling pressure, trading well below key moving averages on the hourly chart.
Momentum and volatility indicators confirm a strong bearish bias, with the price down 8.07% today and closing near session lows.
The forecasted range for the next 2–3 days is $29.7 to $37.8, with a low 23% probability of an upside move.

Bearish momentum intensifies as seller signals and volatility rise

DEXE/USD is trading below its MA-20 ($34.99) and MA-50 ($35.42) on the hourly timeframe, showing a move under short- and medium-term reference levels. The price remains above the long-term MA-200 ($11.29 daily). The Ichimoku Kijun sits at $35.36, acting as immediate resistance. Among momentum indicators, the Moving Average Convergence Divergence (MACD) signals Sell while the Average Directional Index (ADX) is Neutral. The Relative Strength Index (RSI) stands at 30.43, indicating a Sell reading. Stochastic RSI, Commodity Channel Index (CCI), and Bull/Bear Power all register oversold or strong seller dominance, and the Awesome Oscillator is also on Sell, confirming the intensive short-term bearish momentum. Volatility is elevated, with the session close near the daily lows.

Downside risk prevails as break below support threatens further declines

For the next two to three trading days, the forecasted range is $29.7 to $37.8. The chance of an upward price move is limited at 23%, making a downward move far more likely. Baseline expectation is for price consolidation within current levels, while any bullish scenario would require a breakout above resistance at $35.36. Conversely, a bearish scenario could play out if price drops below the $29.7 support, indicating further downside risk.

Viktoras Karapetjanc, Traders Union expert, sees DEXE in a controlled short-term downtrend after breaking below key moving averages. He notes that strong seller momentum dominates, while key resistance at $35.36 remains unbroken. The analyst believes price consolidation is most likely in the coming days, with a clear upside requiring a bullish shift above resistance. He maintains a constructive view, highlighting limited near-term upside but not discounting a reversal. "I expect short-term volatility, but a sustained breakout above $35.36 could quickly shift sentiment in DEXE’s favor."

Earlier, analysts noted that DeXe maintained bullish momentum despite heightened volatility and emerging signs of downside risk. The current shift below key short- and medium-term moving averages, with multiple momentum indicators turning bearish, signals the need for traders to monitor the $29.7 support level closely for potential further declines.

Source of Data: DEXE Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.