EdgeX [EDGE] recorded one of the strongest recoveries in the market after its price climbed 20.14% over the past 24 hours to reach $0.4445. The rally developed alongside a sharp increase in trading activity, with daily volume jumping 182.53% to $28.4 million.
Such growth suggested that traders had returned aggressively after weeks of persistent weakness.
The recovery arrived after EDGE suffered a severe decline from levels above $1.30 earlier this month. Buyers stepped in near recent lows and quickly absorbed selling pressure, allowing the token to stage a notable rebound.
Why are leveraged traders returning?
Derivatives traders increased their participation as the latest rally gathered pace.
Open Interest rose 16.91% to $21.77 million, indicating that fresh positions entered the market rather than existing traders merely closing exposure.
This increase carried importance because it occurred alongside a rising price, a structure that often signals growing speculative conviction.
Growing Open Interest suggested that traders anticipated further upside after the sharp rebound from support.
Can buyers reclaim EDGE’s broken structure?
The daily chart showed EDGE rebounding from a major support zone near $0.39 after enduring a prolonged period of selling pressure.
Buyers successfully defended this level and pushed the price back toward the mid-$0.40 range. This reaction highlighted growing demand at lower levels, particularly after the asset experienced a dramatic breakdown from its former trading structure.
Despite the rebound, the price remained significantly below the key resistance area around $0.71, which previously served as support before the breakdown occurred.
The Relative Strength Index climbed to 28.27 after spending several sessions deep in oversold territory. Although the indicator remained below the neutral 50 mark, the recovery suggested bearish pressure had started losing strength.
Recent candles further reinforced this shift as buyers generated consecutive gains from support.
If bulls reclaim the $0.50 area, the recovery could strengthen further and encourage a move toward higher resistance levels.
However, failure to maintain support above $0.39 could place the recent rebound under pressure once again.
Liquidity clusters point toward the next target
Liquidation data revealed an important concentration of liquidity above current price levels.
The Binance liquidation heatmap showed several dense clusters between $0.48 and $0.50, creating a zone that could attract price if buying pressure remains intact.
If buyers maintain control, a move into the $0.48-$0.50 area could trigger short liquidations and add fuel to the rally. Such a development would likely accelerate volatility while drawing additional attention from speculative traders.
On the downside, liquidity remained less concentrated below current levels, which slightly reduced immediate bearish pressure.
Final Summary
- EDGE attracted fresh trading activity as volume and Open Interest climbed sharply.
- Liquidity above current prices could pull EDGE toward the $0.50 region.
