DeXe [DEXE] has been printing fresh highs for weeks, gaining 45% in the past seven days alone and more than 1,000% across the past 180 days, as reflected on the chart.
Over the past 24 hours, capital has begun retreating as buyers step back and lock in profit, a shift that has dragged the asset down roughly 13% within the period.
The chart structure, however, points to a possible temporary pullback, with price still positioned to extend its upside over the longer term.
DeXe doji candles expose a standoff
DeXe printed two telling doji candles in the early hours of the day.
The first, a gravestone doji, reflected intense sell pressure as price attempted to extend its upswing, while a dragonfly doji formed a few candles later and signaled bulls stepping back in.
Price currently sits decidedly bearish, and the near-term outcome hinges on the key demand zones mapped on the chart.
Source: TradingView
Demand zone 1 offers the first line of support, and a sufficient bounce there could send price swinging upward to clear the overhead liquidity marked by the curved line on the left.
Should selling pressure keep mounting and that level give way, demand zone 2 stands ready to cushion price and absorb the pressure that has weighed on the asset for most of the day.
Demand zone 1 holding remains the likelier scenario, and volume data supports that read, with volume down 36% over the period.
Declining volume alongside a falling price often signals that the momentum driving the move is weak, which opens room for buyers to take control.
Indicators point to a slowdown rather than a reversal
Momentum indicators aren’t fully aligned with the bearish price action, and the Accumulation/Distribution (A/D) indicator captures that tension.
The A/D line weights each period’s volume by where price closes within its range, serving as a proxy for whether an asset is being accumulated or distributed.
At the time of this report, it was trending slightly upward even as prices fell, a divergence that suggests a modest step-up in buyer activity within the period.
Source: TradingView
Likewise, the relative strength index (RSI) is holding within the bullish 50 to 70 band at a reading of 52.
The RSI measures the speed and magnitude of recent price moves, and a reading sitting right on the midline points to neutral, relaxed sentiment rather than a decisive bearish shift.
The balance suggests the price is likely to settle around this level, which coincides with the demand zone.
Sell pressure eases across the Spot market
Spot market data points to easing sell pressure so far. Spot netflow hit its highest net sales on the 12th of July as sellers dominated and net inflows reached $5.38 million.
Although sellers still hold the upper hand, the netflow has plunged to just $391,000, more than ten times below the earlier reading.
Source: CoinGlass
This matters because it shows seller strength has weakened sharply on a netflow basis while buyers step in.
Final Summary
- DeXe has surged more than 1,000% over the past six months, and the current 13% dip looks more like profit-taking after a strong run than a shift in trend.
- Selling has cooled sharply over the last day, with net sales down more than tenfold from the July 12 peak, a sign that buyers may be stepping back in.
