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If you're following the cryptocurrency market, you've probably noticed DEXE/USDT showing strong signs of recovery. 📈 After hitting a 24-hour low of $14.029, the coin is making a powerful comeback, currently trading at $15.26 (+6.24%). Could this be the start of a bullish run that takes it to $17? Let's dive into the details!
📊 Technical Indicators Show Promise
Bollinger Bands: The price is nearing the upper band (UP: $15.278), signaling bullish momentum.
Moving Averages (MA): The MA(5) and MA(10) are climbing, with values at $2,900.46 and $3,139.61, respectively, which aligns with upward momentum.
MACD: A positive value (0.025) confirms buying pressure is increasing.
RSI (6): At 80.536, the RSI indicates the asset is in an overbought zone, which is a sign of strong interest from traders.
🔍 Market Sentiment
DEXE's trading volume is also picking up, with 24-hour volumes of 287,435.67 (DEXE) and $4.24M (USDT). Such volume often indicates higher liquidity, which attracts institutional and retail traders alike.
📈 Price Prediction
Based on the current momentum, DEXE could aim for $17 in the short term if it continues to break resistance levels. However, traders should watch for profit-taking that might introduce temporary dips.
⚡ Key Support and Resistance Levels
Support: $14.50
Resistance: $15.50 → $16.80 → $17.00
💡 Conclusion
With its strong recovery signs, DEXE is a coin to watch. As it pushes towards $17, traders should stay updated on market conditions and set stop-losses to manage risks. Are you ready to ride the recovery wave? 🌊
Trade wisely,
and may the bulls 🐂 be with you!