DeXe (DEXE) has surged by 34% in the latest session, reaching a new yearly high of $24.3 after breaking above key weekly levels, according to reports from AMBCrypto. The move represents more than just a bounce - it marks a clear breakout that shifts the market structure from consolidation into expansion. The latest rally was partly triggered by a short squeeze that hunted for liquidity created by leveraged short positions piled between $21 and $24.5. This short squeeze mechanism amplified the breakout's momentum, with the price action now moving freely above those zones which often opens the door for continuation in the short term.
The altcoin's volume surged by 13% to $33 million, as reported by AMBCrypto. This uptick in activity matters significantly as it demonstrates that the breakout might not be happening in thin conditions. The price action and volume rising together reflects real demand rather than a short-lived spike. Large players have been active across both Spot and Futures markets, with whale participation indicating coordinated positioning rather than isolated trades. This level of whale involvement tends to sustain moves, especially when it aligns with a breakout.
According to Nansen data, exchange balances slipped from 4.47 million to 4.44 million tokens, as reported by AMBCrypto. This meant more DEXE left exchanges than moved in, underscoring spot accumulation during the sharp upstick. The exchange balance reduction indicates that holders are taking profits or moving tokens to cold storage, which typically signals strong spot demand and reduces available supply for trading. This spot accumulation spree could extend the uptrend momentum if it continues, though technical analysis suggests the rally may have reached key resistance levels.
The resistance level at $24 stands as the next target for investors and traders on long positions, according to AMBCrypto analysis. However, the latest move hit the 2025 peak, which could reinforce the $24 area as a key sell wall for booking profits. The candlestick wick at press time confirmed this thesis, with buyers trying to clear the 2025 peak but sellers aggressively entering the market and pushing the price lower. As of press time, DEXE traded at $21.25 and may consolidate above $18 (red zone). Bulls could attempt to regroup at this zone before pushing forward if broader market sentiment supports the move, but failure to defend the red zone as support could drag the altcoin lower to another key zone at $12-$14.
