$DEXE /USDT Technical Analysis & Trade Signal💥🔥🔥👍
Current Price: $10.71
24h High: $12.60
24h Low: $7.76
Technical Analysis:
1. Trend Overview:
DEXE has seen a strong upward momentum over the past 24 hours, with a price increase of +30.28%. The price is currently trading above the $10 mark, indicating bullish sentiment in the short term.
2. Support and Resistance Levels:
Support Level 1: $7.76 (24h low)
Support Level 2: $9.00 (psychological support area)
Resistance Level 1: $12.60 (24h high)
Resistance Level 2: $13.50 (next key resistance)
3. Momentum Indicators:
RSI (Relative Strength Index): The RSI is currently at 70, indicating that DEXE may be in the overbought zone, suggesting a potential pullback or consolidation before further upward movement.
MACD (Moving Average Convergence Divergence): The MACD line is above the signal line, indicating bullish momentum.
4. Volume Analysis:
The 24h volume of 1.27 million DEXE and 12 million USDT indicates healthy market participation and support for the current price trend. A rise in volume during the uptrend suggests continued buying interest.
Trade Signal:
Long Entry: Enter a long position near $10.30 - $10.50 (current price zone), provided there's no significant price pullback.
Target Levels 🎯:
Target 1: $12.00 – The first level of resistance where a profit-taking strategy can be considered.
Target 2: $13.00 – The next significant resistance level. If the price breaks through $12, this level could be reached.
Target 3: $13.50 – A key psychological resistance, ideal for long-term trades if the bullish momentum continues.
Trade Momentum:
Bullish Momentum: The market is currently bullish, but a retracement could occur. Watch for support at $9.50 to $10.00 as a potential buying opportunity if price dips.
Risk Management: Place a stop-loss at $9.50 to protect against any drastic pullback. Maintain a risk-reward ratio of at least 1:2 to ensure favorable outcomes in the long run.