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- 1 DEXE Price might be making a breakout from the 200 EMA
- 2 DEXE price is making a long bearish candle which might be signaling a downward move
The market sentiments regarding the current trend seem to be taking a bearish perspective while the candle sticks are suggesting that the market is under an indecisive situation. As of yet where the DEXE price action is making long wicks and short body candles instead of stable candles hence the market is giving volatile and unpredictable moments.
Although the overall trend of the market is turning bullish where the DEXE price is taking resistance from the 200 EMA. The current price today is $3.10 with a change in 24-hour trading volume of 85%. DEXE is down 10.29% since the last 24 hours.
DEXE price trading under a volatile market
DEXE price is currently moving under volatile market conditions the long wicks and the short bodies are indicating indecision in the market while the volumes are indicating a lack of strength in the market. It seems like the buyers and sellers are at the point of indecision and the market is currently not stable for short-term trading which might make the buyers even more nervous about placing a bet.
Technical Analysis (1 Day Timeframe)
The DEXE price has crossed over the 200 EMA with a strong momentum but the making of a bearish candle is suggesting that the market might soon take a correction while rejecting the support from recent levels also the 20 EMA is moving towards the 200 EMA but if the price does not sustain above it 20 EMA might follow the price action by taking rejection from the 200 EMA.
The current resistance level for DEXE price is around level $4.00 while its recent support price is around level $3.09 and the next support level is around price of $2.74. The RSI line is currently trading near the overbought level around point 60.88 value while the 14 SMA is trading around point 58.75 value the RSI curve is suggesting that DEXE price might soon take a reversal from the current price action.
Conclusion
DEXE price is currently trading near the supply zone where the sellers might soon start overpowering the buyers. DEXE’s price after crossing the 200 EMA is taking a severe rejection which means it might soon start moving from the supply zone toward the demand zone. The RSI line too is currently trading near the overbought levels so it too might soon start moving toward the oversold levels in accordance with the price action.
Technical levels
Support – $3.09 and $2.74
Resistance – $4.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
