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- 1 DEXTools price is broken below the key moving averages showcasing bearishness.
- 2 DEXT crypto witnessed a little weakness in the previous trading sessions.
DEXTools stands as a unified platform for traders, offering insights into decentralized markets by integrating blockchain data into a single user interface. This integration enables traders to monitor their transactions, investments, and the broader cryptocurrency market landscape with clarity.
The platform’s proprietary token, DEXT, facilitates access to exclusive app features either through direct ownership or a monthly subscription plan. It also grants entry to elite trading circles and supports community-led projects like DEXT Force Ventures.
Launched in June 2020 as a public beta, DEXTools initially introduced 200 million DEXT tokens. In a move to reduce supply, the team incinerated 50 million tokens earmarked for themselves, adjusting the total supply to 150 million DEXT. To further enhance its deflationary nature, the DEXTools team commits to burning 10% of the tokens received from subscription payments each month. Currently, the circulating supply stands at 100 million DEXT tokens.
Technical Analysis of DEXTools Price
The DEXTools (DEXT) cryptocurrency price is currently in the bearish region and has been displaying bearish waves for the past few sessions. Furthermore, the crypto is struggling to maintain gains above the key moving averages and is heading in a downward direction. It has declined by over 8.75% this month, indicating the bearishness of the recent sessions.
At press time, the DEXTools crypto (DEXT) price was trading at $0.8334 with an intraday loss of 0.77%, indicating bearishness on the charts. It has a monthly negative return of 8.75% and 2.67% weekly. It has a market cap of $67.77 Million. Indicators are bearish and suggest the DEXT price will hit lower levels in upcoming sessions.
DEXTools Crypto Price vs Volume Analysis
According to the price and volume graphs, the trading volume has decreased slightly from the start of this month along with the price. In the last three days, the trading volume dropped by more than 50% and the price has also declined slightly. If the trading volume declines, then the price may slip below the trendline.
DEXTools Crypto Social Dominance vs Social Volume
Based on the social dominance and social volume chart, the social dominance and social volume have been decreasing for the last few months which has left a negative impact on the price. Furthermore, the momentum of the DEXTools price may depend upon the change in social dominance and volume dominance.
Summary
Current bearish trend of DEXTools (DEXT) cryptocurrency, highlighting its price drop below key moving averages and a general weakness in recent trading sessions. Technical analysis suggests a continued bearish outlook for DEXT, with a decrease in both price and trading volume, as well as a decline in social dominance and volume, potentially influencing future price movements.
Technical Levels
Support Levels: $0.7368 and $0.6000
Resistance Levels: $0.8843 and $1.000
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before maDEXToolsg any financial decisions.
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.
