Crypto Bloodbath? Not for DEXE, Altcoin Explodes 70% as Shorts Get Crushed
DeXe (DEXE) defied a falling crypto market on Tuesday, surging roughly 70% in 24 hours as a violent brief squeeze pressured bearish merchants to cowl their positions.
The transfer pushed DEXE to a recent yearly high close to $24 whereas Bitcoin and most altcoins traded within the crimson. Derivatives knowledge present the rally got here from leverage, not recent spot demand.
Record Open Interest Fueled the Short Squeeze
DEXE open curiosity climbed to roughly $70 million on Tuesday, the very best studying on report. That spike arrived as worth went vertical, a basic signal of pressured positioning slightly than regular accumulation.
Coinglass knowledge exhibits shorts have been the punished facet for months. Red short-liquidation bars dominate the chart, whereas lengthy liquidations stayed small all through.
The decisive blow got here from a short-liquidation cascade value about $1.3 million, the most important on the chart. That wave of pressured buybacks mechanically drove the 70% candle and prolonged a multi-month rally.
Fading Volume Warns the Rally Could Stall
The squeeze seems to be highly effective, but the weekly chart flashes warning indicators. DEXE has retraced nearly its total 2025 decline, climbing from close to $1.73 again to the $24.20 ceiling that has capped its worth since February 2025.
This week’s candle tagged that degree and bought rejected, closing close to $23.50. Price reclaimed the 0.618 Fibonacci assist round $15.60, which retains the construction bullish for now.
However, weekly quantity is falling as worth prints new highs. The relative energy index exhibits bearish divergence, sliding since April even as DEXE climbs to a recent high.
Both alerts recommend the transfer lacks a robust shopping for base. The sample echoes different leverage-driven altcoins that spiked after which light.
DEXE Price Could Target $30 if the Squeeze Holds
Meanwhile, the each day chart frames the bull case. A cup-and-handle sample has fashioned since October 2025, with a breakout in May, a retest of assist, and the present push larger.
That sample initiatives a measured goal close to $30, which aligns with the 1.272 Fibonacci extension at $30.31. DEXE traded round $22.88 at publication, just under the $24.20 resistance.
The thesis wants two issues to carry. Price should break and shut above $24.20, and the RSI should reclaim the 70 degree to verify momentum, based on one chart analysis.
A failure there would hand management again to sellers. With the rally constructed on leverage slightly than spot demand, DEXE faces a binary check at long-term resistance. The subsequent weekly shut ought to resolve the route.
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