DEXE saw a significant rebound after a sharp drop. The token briefly fell to a support zone where buying had occurred multiple times since 2021, before recovering approximately 100% from its low. However, the market still lacks an official explanation from the project team regarding the reasons for this decline.
On-chain speculation points to multiple parties.
Coinpedia, citing an on-chain analyst, reports that community discussions are focused on the MirrorX mechanism involving market makers DWF, Falcon, and Ceffu. The theory suggests that Falcon received DEXE tokens after using the asset as collateral for its platform; these locked tokens were then held in custody by Ceffu, and an equivalent amount of mirror tokens were generated on the exchange for trading.
According to this speculation, mirrored positions may have been sold before the original collateral assets were settled, thus amplifying market selling pressure and driving prices down rapidly.
However, this claim remains at the level of community speculation. The DEXE team has not yet released an official statement or confirmed the aforementioned on-chain analysis conclusions.
The $1.86 area has once again become a support level.
During the sell-off, DEXE briefly fell to around $1.86 before rebounding to around $3.77. While the current price is still significantly lower than pre-crash levels, the rebound from recent lows is close to 100%.
More notably, the $1.86 to $3.35 range has once again proven to be a demand zone. The article states that this area has repeatedly acted as a major accumulation zone since 2021, making its ability to hold after this pullback a key focus for future observation.
- The recent low was around $1.86.
- After rebounding, the price returned to approximately $3.77.
- The long-term support zone is roughly between $1.86 and $3.35.
The price is facing its first resistance zone between $6 and $7.3.
Despite the rapid price rebound, the more critical question remains whether market confidence has been restored. The article points out that assets experiencing similar sharp rises and falls often require a longer period to regain investor confidence, and a technical rebound alone is insufficient to confirm a trend reversal.
If buying pressure continues to accumulate, the $6 to $7.3 range will be the first major resistance zone for DEXE. Only by consistently holding above this range can the market discuss further, more significant upward movement.
Until the reasons for the decline become clear, the subsequent trend of DEXE may continue to be influenced by both sentiment and price range.
