Bearish technical signals persist — DeepBook drops 7.05%

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DeepBook slides 7.05% to $0.02506

Highlights

DeepBook Protocol, launched on October 13, 2024, has reached a market capitalization of approximately $130.37 million on the Sui Network.
The project maintains a circulating supply of just over 4.78 billion DEEP tokens out of a 10 billion maximum, with 24-hour trading volumes at $22.43 million.
DEEP trades below key moving averages (MA-20: $0.03618, MA-50: $0.03936, MA-200: $0.09008), with bearish momentum, oversold conditions, and a high probability (>80%) of further price declines toward $0.0225–$0.0275.

Token supply and network flows as volume lifts trading activity

DeepBook Protocol, which launched on October 13, 2024, currently has a market capitalization of approximately $130.37 million. The project operates on the Sui Network and has a circulating supply of just over 4.78 billion out of 10 billion total tokens. The past 24 hours saw trading volumes reach around $22.43 million.

Bearish momentum persists as oversold signals and volatility spike

Momentum signals are clearly bearish, with both MACD and ADX pointing to ongoing downward pressure. Oversold readings from several oscillators — specifically RSI (29), Stochastic RSI (extreme low), and CCI (deep negative) — suggest the price is stretched on the downside, although Bull/Bear Power remains negative and indicates sellers still dominate intraday action. The Awesome Oscillator also supports the prevailing downward trend. The current session opened with a gap down from the previous close, and despite a small rebound off the lows, the price remains in the lower half of today’s range, accompanied by high intraday volatility and sustained pressure after the open. Momentum and oscillator indications are in agreement, with no signs of bullish divergence yet.

High downside risk as price consolidates within narrowed range

For the next five trading days, the expected range is adjusted to $0.0225 – $0.0275, keeping price fluctuations within a typical volatility band relative to current levels. There is a very high probability (more than 80%) of further price declines, with an upward reversal being less likely. The baseline scenario sees the price consolidating between support and resistance, a bullish scenario would require a break above $0.0275 to challenge higher resistance, while a bearish move could see the price retesting or breaching the $0.0225 area if sellers remain in control.

Anton Kharitonov, analyst at Traders Union, sees DeepBook locked in a firm downward trend, confirmed by weakness across all key technical levels and momentum signals. He believes persistent selling and the lack of visible support suggest sellers remain in control, with little evidence of a bullish reversal forming yet. Risk remains skewed to the downside, and consolidation within $0.0225 – $0.0275 is the most likely short-term scenario. "Until the price reclaims at least $0.0275, I remain defensive and see no reason to chase an upside move here."

Most recently, analysts observed that DeepBook Protocol remains under sustained bearish pressure, with the price trading well below all major moving averages and encountering dynamic resistance while lacking nearby support. Technical indicators including MACD, RSI, and CCI confirm continued oversold conditions and weak trend strength, underscoring persistent bearish momentum and the potential for further downside or consolidation absent a momentum reversal.

Source of Data: DEEP Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.