One trader noted, “DEXE’s hold at $2.28 is critical a break could unleash deep losses.” The token’s recent 12% drop revived attention on its long-term support level near $2.28, a price point revisited multiple times since 2022. Whether DEXE stabilizes here or heads for a sharper decline depends on its ability to defend this zone.
The $2.28 mark has acted as a price floor for months, and bouncing off it could open the door to reclaiming resistance around $4.12. If momentum builds, the $7.15 area might come into view. Conversely, a breach might push the token toward much lower levels, with its all-time low near $0.14 lingering as a far-off extreme rather than an immediate target.
Data from CoinGlass highlights an interesting dynamic: as DEXE fell, the Whale versus Retail Delta climbed above 0.40, signaling that larger holders are increasingly dominating market positioning over smaller retail investors. Meanwhile, a dense cluster of liquidity sits between $2.085 and $2.16, acting as a likely magnet if the price loses the $2.28 support. These pockets suggest potential liquidation zones but don’t definitively prove market manipulation or stop hunting.
At the same time, funding rates on derivatives hint at easing bearish pressure. A negative rate since late July is now rising sharply toward zero, suggesting some traders are shifting toward longs. Adding to the complexity, DEXE’s total number of holders reached a new peak of 54,680 on July 31, even as the price dropped. Spot net flows show nearly $1 million worth of DEXE absorbed by buyers recently, pointing to ongoing accumulation despite weakness. Still, stronger price confirmation will be necessary to signal a true recovery. For now, the $2.28 level remains a make-or-break point, with nearby liquidity zones ready to pull price further down if broken.
This content is for informational purposes only and does not constitute financial advice.
