EdgeX EDGE snaps back 20% as $28.4M volume and $0.50 liquidity magnet lure short-sellers into a squeeze

EdgeX (EDGE) climbed 20.14% over the past 24 hours to $0.4445, reversing a steep slide from levels above $1.30 earlier this month. Spot turnover surged 182.53% to $28.4 million, and the move drew a wave of leveraged positioning. Open Interest on EDGE derivatives rose 16.91% to $21.77 million, indicating that new contracts entered the market alongside the price recovery rather than existing positions being unwound.

The token rebounded from a major support zone near $0.39, where buyers absorbed selling pressure after a breakdown from its previous trading structure. EDGE remained well below the prior support-turned-resistance area around $0.71. The Relative Strength Index recovered to 28.27 from extended oversold readings, leaving the indicator below the neutral 50 level but pointing to easing bearish momentum after consecutive bullish sessions.

Liquidation heatmap data from Binance showed dense clusters of resting orders between $0.48 and $0.50, a band directly above the current price. A push into that zone could trigger short liquidations and increase intraday volatility. Liquidity below current levels appeared thinner, reducing immediate downside pressure. Whether EDGE can defend the $0.39 floor or extend through the $0.50 area will set the tone for the next session, with the $0.71 region remaining the larger technical hurdle overhead.