DEXE Weekly Technicals: Support Test at $2.03, Downtrend Intact; BTC Correlation Raises Downside Risk
DEXE trades near $2.04 after a -2.77% weekly loss, holding a tight range of $2.03–$2.13 with low volume (~$753k). Technical indicators show a prevailing downtrend: price below EMA20 ($2.50), weekly Supertrend bearish crossover, MACD negative histogram and weekly RSI in oversold territory (~29–32). Key supports are $2.0280 (current base) and $1.7260 (major support; breakdown risk high). Immediate resistances: $2.1324 (short-term pivot) and $2.3549. Analysts recommend a bullish trigger only after a daily close above $2.1324 or EMA20 weekly breakout, with targets to $2.35–$3.83 and tight risk sizing (2–3%). Bearish scenario activates on a break below $2.0280 targeting $1.7260 and potentially $0.2254. DEXE shows high correlation to Bitcoin (~0.85); further BTC weakness (key supports $65,786 / $62,152) would likely accelerate DEXE downside. Traders should watch volume increase and RSI crossover (above 50) for reversal confirmation; otherwise, maintain caution and prefer positions aligned with BTC direction. This analysis is from COINOTAG analysts Michael Roberts and Chief Analyst Devrim Cacal. Not investment advice.
Bearish
The analysis indicates the downtrend remains intact: DEXE trades below EMA20 with bearish weekly Supertrend and negative MACD histogram while RSI is oversold. Low volume consolidation around $2.03 suggests limited buying conviction — a classic distribution/weak-accumulation setup. The token’s high correlation with Bitcoin (~0.85) increases downside exposure if BTC breaks key supports. The bullish case requires clear technical triggers (daily close above $2.1324 or weekly EMA20 breakout) plus volume and RSI confirmation; absent these, breakdown risk to $1.7260 (and lower) is more probable. Historically, altcoins with similar setups and strong BTC correlation have accelerated declines when Bitcoin turned lower and failed to produce volume-backed reversals. Short-term, traders should expect volatility around the $2.03 base and favor short or neutral positioning until reversal signals appear. Long-term reversal needs substantial momentum shift and BTC strength, so position traders should remain patient or use very tight risk management.