Can DEXE Continue Defying the Bearish Crypto Trend?

The past several days have delivered a brutal blow to the broader cryptocurrency market. Beginning Sunday, June 21st, the sector witnessed a staggering $3.3 billion in leveraged positions wiped out through liquidations — a figure that underscores just how volatile conditions have become.

According to data from CoinGlass, Tuesday, June 23rd, stood out as the most painful single day, with approximately $787 million in long positions liquidated across the market. While the scale was significant, it did not surpass the even larger liquidation events that occurred earlier in the month. The Crypto Fear and Greed Index reflected the grim mood, plunging to a deeply fearful reading of 17.

Yet amid the market-wide turmoil, DeXe (DEXE) carved out a notably different path, standing as one of the rare altcoins maintaining a constructive long-term technical outlook.

A Rally Against the Grain

Recent analysis from AMBCrypto highlighted that whale accumulation and on-chain network activity reaching all-time highs served as indicators of growing confidence in the DeXe ecosystem. The price action throughout June has further reinforced that bullish conviction.

Looking at the daily chart on TradingView, DEXE's price structure remains firmly tilted to the upside. After surging from $9.81 to $24.49 in May, the token underwent a healthy retracement, pulling back into the golden pocket — a key Fibonacci zone situated between $12.95 and $15.42. Buyers stepped in during this pullback, and at the time of writing, DEXE was once again approaching its prior high of $24.49.

A brief rejection on Thursday, June 25th, did not raise red flags. On the contrary, the retesting of the $20–$21 zone — which had previously acted as local resistance — appeared encouraging. The MACD indicator confirmed upward momentum through a bullish crossover, while the Accumulation/Distribution (A/D) line signaled sustained buying pressure during the recovery from sub-$15 levels.

Funding Rates and Open Interest Paint a Measured Picture

Data from Coinalyze revealed that funding rates, after spiking earlier in the week, have since cooled to more balanced levels. Open Interest also declined modestly in recent sessions, yet funding rates stayed in positive territory — a sign that bullish sentiment remains intact without being overheated.

This consolidation phase above the $20 mark, combined with cooling speculative activity, suggests that DEXE bulls have had room to regroup. The setup implies that the price may not yet be overextended, leaving potential upside on the table.

Liquidation Map Signals Further Upside Potential

CoinGlass liquidation data adds another layer to the bullish case. The cumulative short liquidation leverage clustered near the $24 price level significantly outweighs the cumulative long liquidation leverage positioned below current prices. This imbalance suggests that a move toward the $25.50 local high could trigger a short squeeze, potentially accelerating upward price movement.

Whether the bullish momentum sustains itself remains an open question, but the confluence of technical signals, on-chain fundamentals, and liquidation dynamics paints a picture that leans in favor of further upside.

Key Takeaway

DeXe's long-term price trend has remained bullish even as the broader market suffered significant losses. Strong fundamentals, measured positioning, and a favorable liquidation map collectively suggest that DEXE could be building toward another leg higher — though traders should remain cautious given the volatile macro environment in crypto.