DeXe (DEXE) token has rallied more than 200% since February, but the same breakout that fueled the upside now risks turning into a sharp bearish reversal.
DEXE staged a powerful comeback after bottoming near $1.70 in early February and climbing above $5.00 in March. The rebound was driven by a mix of altcoin rotation, renewed appetite for DeFi names, and momentum buying after the token broke above key resistance and reclaimed its major moving averages.
Once DEXE cleared the $3.30–$3.60 zone, the rally accelerated quickly, helped by improving sentiment across the broader crypto market. Traders appeared to rotate into mid-cap tokens like DEXE in search of higher-beta opportunities while Bitcoin and large-cap crypto held firm.
The latest chart structure now suggests that DEXE may be forming a near-perfect inverted V reversal.
After rising vertically to the $5.00–$5.20 region, the token quickly lost momentum and started retreating toward the $4.00 area. This kind of setup typically reflects a rapid shift from aggressive buying to equally aggressive selling, often after an overheated move.
The key support to watch is around $3.95. A clean break below that level would confirm the bearish reversal and likely encourage traders to enter short positions.
In an inverted V setup, traders usually take the height of the rally and project it downward from the breakdown point to estimate a bearish target.
Using that method, a confirmed break below support could send DEXE toward the $3.00 area, with room for a dip below $3.00 later in March or by April if the selling pressure intensifies. That is down 30% from current price levels.
Still, the bearish view is not locked in yet. If buyers defend current levels and regain control, DEXE could rebound toward $5.20, which aligns with the 1.618 Fibonacci level on the chart.
For now, DEXE looks like a token at a technical crossroads: either bulls reclaim the trend, or the 200% boom turns into a classic DeFi blow-off retracement.
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