Foreign media believe that DEXE’s sharp volatility this week was primarily driven by derivatives market liquidations, rather than sustained buying pressure. After a rapid price surge, the price quickly pulled back, but it held temporarily above the $17 level, leaving bulls with short-term initiative.
Short liquidation spikes quickly retraces
The report noted that DEXE surged nearly 36% within hours on June 3, accompanied by increased spot buying pressure. However, this rally failed to sustain, and approximately 27 hours later, the price had dropped from $24.49 to $17.19.
The article suggests that this sharp rally followed by a rapid pullback indicates that liquidations were the primary driver. Previously, highly leveraged short positions were forcibly unwound in a concentrated manner, followed by the clearance of over-leveraged traders on both the long and short sides amid the volatility.
Around $17 becomes a short-term observation level.
After a sharp decline, DEXE has rebounded approximately 15% from its nearby low of $17. Foreign media interpret this as evidence that bulls have not fully lost control, and short-term capital continues to absorb demand at this level.
However, the article notes that the midpoint of the range near $20 has now turned into resistance. If any subsequent rebound fails to reclaim this level, the price may again test the support near $17.18.
- The high point of the range once rose to $24.49.
- The pullback low is near $17.19.
- $20 is currently considered a short-term resistance level.
The high-cycle trend remains strong.
From a longer-term perspective, the article suggests that DEXE’s structure has not weakened. After breaking above the key swing high of $4.19, the price trend turned bullish and subsequently surpassed the October 2025 high of $13.63.
The report also noted that Bitcoin falling below the $60,000 level may continue to suppress sentiment across most altcoins. For DEXE, if the $17.18 support is broken, the short-term bullish outlook could be invalidated; if this level remains intact, the price may still maintain a range-bound, slightly bullish trend.