EDGE Bounces 19% Off the Canvas While Shorts Get Rinsed 🧽

EdgeX [EDGE] climbed 19% to $0.400 over the past 24 hours, rebounding after losing nearly three-quarters of its value in recent weeks. Trading volume rose 39% to $12.53 million, indicating that participants had returned to the market following several sessions of limited activity. The advance stood in contrast to the sustained selling pressure that had driven the token sharply lower from the $1.50 region earlier this month.

Open Interest in EDGE derivatives increased 21.39% to $17.52 million, signaling that new leveraged positions entered the Futures market during the rally. The expansion followed a period of declining exposure and suggested that traders were positioning for further price movement as volatility remained elevated. Higher leverage participation reflected growing engagement across derivatives markets, though it also carried amplified risk.

Liquidation data showed short sellers absorbed the majority of pressure during the recovery attempt. Total short liquidations reached approximately $45,070, compared with roughly $14,010 in long liquidations, an imbalance that pointed to forced buying as bearish positions were closed. Binance recorded the largest share of short liquidations, with approximately $473,480 wiped out during the session. At the time of analysis, EDGE traded around $0.4013 and approached the $0.4216 resistance level that had formed after the recent breakdown.

The Relative Strength Index climbed to 30.88 after spending several sessions in deeply oversold territory, indicating that selling pressure had eased but had not fully reversed. The indicator remained below the neutral 50 mark, showing that buyers had not regained complete control of price action. Meanwhile, the Parabolic SAR stayed above price, maintaining a bearish signal despite the latest advance. EDGE's recovery attempt continued as traders monitored whether the token could establish a base above its recent lows.