edgeX Breakout Fueled by Binance and Short Squeeze

edgeX (EDGE) has suddenly become one of the most talked-about coins in the crypto market, with its price surging to a high of $0.4627 and a 24-hour trading volume change of +101.4%. The coin's sudden rally has left many traders scrambling to buy back in after writing it off last week.

According to the chart, edgeX broke out of a descending channel that had trapped its price since early June, and the thin sell side allowed the price to run. The RSI level is now at 92.86, indicating deep overbought territory.

The coin's sudden attention is likely due to its integration with Binance Alpha ecosystem and active airdrops, which puts it in front of a large trading audience. edgeX also carries real usage tied to perpetuals trading, not just speculative tokens sitting idle.

Short sellers have taken the biggest hit, losing $1.26M against $539.22K on the long side in the last 24 hours. However, the RSI cooldown is expected to happen first before fresh buying kicks in.