• DEXE was attempting to break above the descending trendline of a falling wedge pattern as of press time.
• The most concentrated level with leveraged DEXE positions sat at $13.41.

The DeXe Network [DEXE] went up by 12.4% over the last 24 hours as it gained momentum with the total market cap of the DeFi sector sat at $117B.

The top three, led by Lido [LDO] at $23.4B, Hyperliquid [HYPE] with $11.0B and Chainlink [LINK] at $10.7B with dominance at 20%, 9.42% and 9.10% respectively.

Meanwhile, Zebec Protocol [ZBCN] rose by 161% in weekly movers, Tellor [TRB] by 81.1% and Lorenzo Protocol [BANK] climbed by 21.9%.

Such a rise constitutes more weightage toward greater DeFi adoption, since, with broader rallies in the crypto market, DEXE also went up in price.

After rising over 12% in the last 24 hours, DEXE tried to break out and saw its highest volume of 597% in those periods.

The charge sample of DEXE crypto crossed over the descending resistance of a falling wedge, trading at $13.857.

The breakout happened soon after the price of DEXE had spent some time in the “Buy Zone,” between $12.50 and $13.50. This suggested the price level was a critical accumulation zone by traders.

Should DEXE stay above its upper boundary and maintain energy, it may return to $16.00 and could then reach even higher toward $20.00 and $24.00, its highest point in early February.

If the price does not reach the resistance, it could return to the wedge again at about $12.50 and $13.50 for another buildup. If trading fell under $11.300, this area would mark a breach of the bullish pattern.

The breakout showed that this trend fit the normal falling wedge reversal structure, so a continuation in the bullish trend could be possible, but, it must be certain that the fee of the candle finishes above the resistance.

The support at $13.20 was important and $16.00 was the resistance, with the $24 mark set as our bullish goal.

More analysis showed a composition of 268,212 positions clustered at the $13.42 price level. More dense clusters on the DEXE/USDT liquidation heatmap stood just below the present price of $14.16 at the time of writing.

In the event that DEXE’s price spirited toward $13.42, there would be surely huge long-liquidations, thus planting seeds of more pressure to sell.

Meanwhile, buyers could be gathering to defend against sellers at these new liquidation layers.

Should DEXE test the $13.42 region, short positions may get closed rapidly for profits, resulting in prices jumping higher.

The ongoing movement above $14 could probably continue until one of these key zones at $14.5-$14.85 was broken down.