DeXe falls to $17.19, but here’s why bulls can still remain confident
Despite the market-wide downturn and recent volatility, DEXE remained in a higher timeframe uptrend.
On Wednesday, the 3rd of June, DeXe [DEXE] rallied almost 36% in a matter of hours. Driven by a massive surge in short liquidations, the crypto AI token’s price surge was accompanied by spot accumulation.
Yet, this buying was not enough to fend off a retracement of these gains. By the 4th of June, 27 hours after the initial spike, DEXE had fallen from $24.49 to $17.19.
This kind of volatility suggested that liquidation sweeps were the key driver of the price move. Overleveraged derivatives traders on both the long and short sides were taken out.
Interestingly, the altcoin has bounced nearly 15% from Thursday’s low around $17. These gains, coming after the volatility storm earlier this week, suggested that bulls might still have the upper hand.
Meanwhile, Bitcoin [BTC] has relinquished control of the $60k level. This will further destabilize the already shattered confidence in most altcoins. Will DeXe fall in line with the wider market or continue its remarkable performance?
The bullish DEXE case
The October 2025 crash took DEXE to a new swing low. On the chart above, the price reached a low of $0.136, but it was revealed back then that thin liquidity on Binance led to severe, oversized price drops on certain altcoin pairs on the exchange.
The price action in February 2026 saw a continuation of the downtrend, but a breach of the $4.19 swing high shifted the swing structure bullishly. DEXE has not looked back since then and even managed to beat the October highs at $13.63.
Traders’ call to action: Play the range
While the higher timeframe trend remained bullish, the past few days saw heavy volatility and a potential range formation. At the time of writing, the mid-point of this range, at $20, has been flipped to resistance.
It appeared likely that the range low at $17.18 would be tested as support in the coming days.
Traders can look to buy this retest but should also remember that the higher timeframe uptrend can see a deep, healthy pullback in the coming weeks. Therefore, a drop below the range lows can be used to flip the short-term bias bearishly.
Final Summary
- DeXe has seen high volatility, driven by massive liquidations, in recent days.
- Despite the market-wide downturn and recent volatility, the crypto AI token remained in a higher time frame uptrend.
