DeXe Surges With 351% Volume Spike as Traders Eye $15 Target

• DeXe (DEXE) is making waves in the crypto market with its strong 30% rally and a powerful comeback.

• Price break above the 200-day EMA mark accompanied by a 351% increase in daily trading volume, indicating strong buying interest.

DeXe (DEXE) is stirring ripples in the cryptocurrency market with a glorious technical breakout that has left both traders and investors with their eyes fixed on it. The token has gone up by around 30% in the past 24 hours, with an impressive 351% spike in daily trading volume indicating high buying pressure and fresh market confidence in the project.

Technically, DEXE has decisively surged above its 200-day exponential moving average, which stands at $9.859, which is a huge psychological and technical milestone. This development is an indication that the long-term bearish trend that had dominated the price movement over the summer months has been broken. As per CMC data, the altcoin is currently trading at $11.708, which is well above the 200-day EMA and 50-day EMA of $8.518, and this shows that the momentum has shifted squarely on the side of the bulls.

What Next For DeXe Price?

Source: Tradingview

As shown in the chart, DEXE has been trading in a downward channel since March, with the highs and lows decreasing in value, and the price trend is expected to continue in the same direction until September. The recent breakout has, however, destroyed this bearish pattern with price action pushing past the upper limit of the downward channel as well as the vital 200-day moving average resistance. These two breakouts are a positive addition to the bullish argument and indicate that the accumulated selling pressure has been spent.

Positive indicators also support the positive outlook. The MACD histogram indicates that the bullish momentum is increasing with expanding green bars and the MACD line crossing the signal line. The sentiment indicator has shifted sharply to the positive at 0.262, indicating increasing optimism among market participants. In the meantime, the RSI of 68.68 shows that the momentum is strong, but has not yet entered the overbought region, so the possibility of additional upside remains open before the potential profit-taking effect may occur.

The current market structure is now more inclined to continue upwards, and the next logical target will be at the level of $15, which will be an increment of 28% of the current levels. This target coincides with former resistance areas earlier in the year. The volume expansion, technical breakouts and positive momentum indicators are all signs that DEXE is in a new bullish stage, although traders should watch that the market consolidates in a healthy manner.

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