DEXE Yesterday fell from 2.70 all the way to 2.204, down 8.5% in 24 hours. In the last 1 hour, 4 hours, and the daily chart, everything is green, and the price is also pushed below the two moving averages. With a drop like this, futures open interest actually jumped by 45.85% in a single day. This position isn’t here to prop up the market—it’s here to add kindling to the fall.
In the spot market, the net inflow has been 4.78 million yuan over the past three hours, and in the 12 sampled candles none has been broken—real money really is coming in, yet the price is still smashed to new lows anyway. When even a strong inflow can’t stop the downtrend, it only means that sell pressure above is much more vicious than buy support. Don’t expect this weak rebound to turn the tables.
What stands out most is what’s happening on-chain: the margin long/short ratio has surged to 40.97; within 12 hours it has doubled outright. A mass of leveraged long positions has piled their costs all onto the mid-slope above 2.3. As soon as the price loses 2.204, this batch of positions will trigger a chain liquidation—turning into fuel for the further sell-off.
I’m bearish on this trade. If the rebound goes above 2.30, that’s handing the short sellers a knife. First target: 1.892. If that level breaks, I’ll look for even lower prices. On the other hand, if it pulls back with volume and reclaims 2.37, and the fee rate turns positive, that would mean the money is truly accumulating—I’ll admit I’m wrong and get out.
#dexe $DEXE
In the spot market, the net inflow has been 4.78 million yuan over the past three hours, and in the 12 sampled candles none has been broken—real money really is coming in, yet the price is still smashed to new lows anyway. When even a strong inflow can’t stop the downtrend, it only means that sell pressure above is much more vicious than buy support. Don’t expect this weak rebound to turn the tables.
What stands out most is what’s happening on-chain: the margin long/short ratio has surged to 40.97; within 12 hours it has doubled outright. A mass of leveraged long positions has piled their costs all onto the mid-slope above 2.3. As soon as the price loses 2.204, this batch of positions will trigger a chain liquidation—turning into fuel for the further sell-off.
I’m bearish on this trade. If the rebound goes above 2.30, that’s handing the short sellers a knife. First target: 1.892. If that level breaks, I’ll look for even lower prices. On the other hand, if it pulls back with volume and reclaims 2.37, and the fee rate turns positive, that would mean the money is truly accumulating—I’ll admit I’m wrong and get out.
#dexe $DEXE
