Foreign media believe that the sharp fluctuations in DEXE this week were mainly driven by the clearing of derivatives markets, rather than simply by sustained buying. Prices surged briefly before quickly falling back, but the $17 level held temporarily, allowing bulls to retain short-term control.

Short selling pushed prices up before quickly pulling them back down.

The report noted that DEXE surged nearly 36% within hours on June 3, accompanied by a corresponding increase in spot buying. However, this rally failed to hold. Approximately 27 hours later, the price had fallen from $24.49 to $17.19.

The article argues that this sharp rise followed by a rapid pullback indicates that liquidation was the primary driving factor. Previously over-leveraged short positions were squeezed out, and subsequently, excessively leveraged traders on both the long and short sides were also eliminated during the volatility.

The area around $17 is a key level to watch in the short term.

After a rapid decline, DEXE rebounded by about 15% from a low near $17. Foreign media outlets judged this to indicate that the bulls had not completely lost control, and short-term funds were still supporting the price in this area.

However, the article also points out that the midpoint of the range around $20 has now become a resistance level. If the subsequent rebound fails to regain this level, the price may retest the support around $17.18.

• The price rose to a high of $24.49 at one point.
• The pullback low was around $17.19.
• $20 is currently considered a short-term resistance level.

The high-cycle trend remains strong.

From a longer-term perspective, the article argues that the structure of DEXE has not yet weakened. After breaking through the key swing high of $4.19, the trend turned upward, subsequently surpassing the October 2025 high of $13.63.

The report also mentioned that Bitcoin's breach of the $60,000 mark may continue to suppress sentiment for most altcoins. For DEXE, if the $17.18 support level is breached, the short-term bullish outlook may be broken; if this level holds, the price is likely to maintain a volatile but slightly bullish pattern.