DeXe Technical Analysis: May Fall Below the First Support Level of $19.78

DeXe is a decentralized blockchain-based social trading network that mimics the best trading strategies of the top traders. It enables wallet-to-wallet copying. DEXE is the native token of this ecosystem. The following DEXE technical analysis predicts price momentum for the next two days:

Past Performance

On April 22, 2021, DEXE started trading at $21.77. On April 28, 2021, DEXE closed at $19.83. Thus, in the past week, the price has dropped by approximately 10%. In the last 24 hours, DEXE has traded between $19.94-$22.33.


Day-Ahead and Tomorrow

Currently, DEXE is trading at $21.99. The price has decreased from the day’s opening price of $22.34. Thus, the market seems to be downtick.

Currently, the RSI indicator is at 44%. It faced rejection at 54% and fell to the current level. Thus, selling pressures are high and the price is expected to fall further.

The MACD and signal lines have turned negative. Moreover, a bearish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is bearish. Like the RSI indicator, the MACD indicator is pointing towards a further price decline.

The OBV indicator has fallen steeply too. Hence, selling volumes are much higher than buying volumes. Heavy selling activity will exert downward pressure on the DEXE price.

In a nutshell, all three oscillators have given bearish signals and hence the price is expected to fall further.

DeXe Technical Analysis

As per technical analysis, currently, the price is above the first Fibonacci pivot resistance level of $21.61. It may soon fall up to the Fibonacci pivot point of $20.70. As the bears are strong as of now, it may fall below the first support level of $19.78 as well, in some time.

The price has tested and fallen below the 61.8% FIB retracement level of $20.85. It is soon likely to fall below the 76.4% FIB retracement level of $20.50 as well. Currently, the bearish forces are strong and hence the price downswing may continue today and tomorrow.


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