DeXe [DEXE] recorded a sharp correction over the past 24 hours, falling 16% at press time. The drop followed an aggressive liquidity sweep near the $5.0 resistance zone.
That region accumulated a large cluster of resting orders. Once price tapped the zone, the market reversed quickly.
Such moves often occur after liquidity clears overhead resistance. Traders take profit, momentum cools, and price retraces.
The rejection near $5.0 reset DeXe’s short-term momentum.
Liquidity-driven rallies frequently end with stop-hunting moves before volatility expands. In this case, the reaction triggered a swift correction.
However, the broader bearish structure remained intact, suggesting the market may still test lower support levels.
Derivatives positioning reflected mixed sentiment.
At press time, DeXe’s Long/Short Ratio stood near 0.545. Long positions slightly exceeded short exposure.
This imbalance suggested some traders still expected a recovery.
Even so, the ratio remained close to neutral, highlighting uncertainty among derivatives participants.
As a result, traders continued watching key support levels before committing to the next directional move.
While derivatives traders appeared cautious, the spot market showed a different picture.
Spot buyers continued dominating DeXe’s trading activity, hinting that accumulation may occur during the dip.
Strong spot demand often stabilizes price during corrections, particularly when leveraged traders unwind positions.
If accumulation persists, spot activity could slow the current bearish momentum.
Attention has now shifted to the $3.75 demand zone.
This region represents the next major support area capable of slowing further downside pressure.
If buyers defend this level, the market could stabilize and attempt another upward move.
Notably, DeXe continues trading above its 50-day Exponential Moving Average (EMA).
As long as this structure holds, the broader bullish trend remains technically intact.
For now, the market appears to be recalibrating after the liquidity sweep.
The coming sessions will determine whether buyers defend $3.75 and rebuild momentum.
