DEXE crypto jumps 22% after breakout – Can bulls now target $24?

DeXe [DEXE] surged 22% after breaking above the $16 resistance level that capped price action since April 2025. At press time, DEXE traded at $17.65 after gaining 22% over the past 24 hours. Trading volume also jumped 99% to $42.5 million. The rising volume alongside price growth suggested traders supported the breakout move. That momentum could keep bulls active near current levels. Can DEXE rally another 35%? According to TradingView data, DEXE reclaimed bullish momentum after moving above the 200-day Exponential Moving Average (EMA). The recent rally also pushed the token above its long-standing $16 resistance zone. Based on the chart setup, DEXE could extend gains toward $23.90 if buyers defend the breakout zone above $16. However, losing that level could weaken the bullish setup and trigger another reversal. On top of that, the Average Directional Index (ADX) rose to 40.32, indicating strong trend momentum. Why are traders still bearish? Even so, derivatives traders appeared unconvinced by the breakout. According to CoinGlass, DEXE’s OI-Weighted Funding Rate turned negative and dropped to -0.0020%. Meanwhile, Binance’s Long/Short Ratio fell to 0.547. That setup suggested short positions still outweighed bullish bets across futures markets. Negative Funding Rates typically indicated that traders expected downside pressure despite rising prices. By contrast, on-chain data pointed toward growing accumulation activity. According to Nansen, exchange reserves declined 14.81% over the past 30 days. Falling exchange balances often suggested investors moved tokens into private wallets instead of preparing to sell. That trend could support DEXE’s breakout if buying demand remains steady above the reclaimed resistance zone. Final Summary DEXE rallied 22% after breaking above the $16 resistance level that had capped the price since April 2025. Trading volume jumped 99% to $42.5 million, showing stronger market activity behind the breakout.