EdgeX (EDGE) surged 20.14% in 24 hours to $0.4445, accompanied by a sharp increase in volume and renewed buying interest after a significant drop.
This recovery comes after EDGE fell from above $1.30 earlier this month. Current technical data and liquidation suggest the market is still testing XEM this rebound is strong enough to sustain.
- EDGE rose 20.14% in 24 hours, while volume increased 182.53% to $28.4 million.
- Open Interest increased by 16.91% to $21.77 million, indicating that new positions have returned to the market.
- The $0.48–$0.50 range and the $0.39 mark are the next levels to watch.
Volume and Open Interest both increased as EDGE recovered.
EDGE is recovering thanks to a return of trading activity, with both volume and open interest rising. Volume increased 182.53% to $28.4 million, while open interest rose 16.91% to $21.77 million.
The combination of rising prices and increased open interest typically reflects traders opening new positions instead of closing existing ones. This indicates an increase in speculation after a prolonged period of weakness.
The $0.39 mark remains a crucial defensive zone.
EDGE bounced back from the support zone near $0.39 after a prolonged sell-off. The price has now returned to the mid-$0.40 range but remains a long way from the main resistance around $0.71.
The RSI rose to 28.27 after several sessions deep in oversold territory. Although still below the neutral 50 mark, this development suggests that downward pressure has weakened somewhat. If buyers push the price back to $0.50, the rebound could be further strengthened; conversely, a loss of $0.39 could weaken the recent upward momentum.
Liquidation is concentrated in the 0.48–0.50 USD range.
Liquidation liquidation indicates thick clusters appearing above the current price, particularly in the $0.48–$0.50 range. This is an area that could pull the price up if buying pressure is sustained.
If EDGE enters this zone, short positions could be liquidated, leading to a faster increase in volatility. Conversely, liquidation below is currently less dense, so the immediate downward pressure is somewhat less intense than the upward pressure above.
Summary
EDGE is recovering strongly after a sharp decline, but the short-term trend still depends on whether the price can hold the $0.39 level and break through the $0.48–$0.50 area.
