DeepBook drops over 8% after trading well below long-term average

Traders Union
All News
Crypto
DeepBook slides 8.08% to $0.01751 today

Highlights

DEEP/USD continues to trade under key moving averages, indicating persistent bearish pressure across multiple timeframes.
Momentum indicators and oscillators signal strong downside bias with the market seen as oversold and volatility elevated.
Trading range is expected between $0.01659 and $0.02078 over the next 2-3 days, with a 77% chance of further price decline.

Oversold momentum and sell bias as resistance holds

On the technical front, DEEP/USD is trading below the MA-20 at $0.01832 and MA-50 at $0.01861 on the one-hour chart, with additional weakness as price remains well under the long-term MA-200 at $0.02985. The Ichimoku Kijun at $0.01838 is acting as immediate resistance. Momentum is negative: the Moving Average Convergence Divergence (MACD) and Average Directional Index (ADX) signal a sell bias, while the Relative Strength Index (RSI) reads 28.15—indicating oversold levels. Both the Stochastic RSI and Commodity Channel Index (CCI) are also in oversold territory. Bull/Bear Power is on sell and intraday momentum remains dominated by sellers, as confirmed by the Awesome Oscillator. Volatility is high, with DEEP/USD close to its daily low.

Volatility persists as downside risks outweigh recovery

Looking ahead to the next 2 to 3 trading days, DEEP/USD is expected to remain volatile in a $0.01659 to $0.02078 range. Probabilities suggest a 77% chance of further downside and only a 23% chance of a recovery. Baseline scenario sees price holding within this volatility band. A bullish scenario would require a breakout above $0.01838 resistance, while a bearish breakdown below $0.01659 would likely open up additional downside potential.

Anton Kharitonov, expert at Traders Union, sees clear technical weakness in DeepBook as it trades below key moving averages and faces persistent resistance. Momentum and oscillators confirm a bearish setup, with volatility high and a lack of positive news drivers. He remains cautious and expects more downside risk unless short-term resistance at $0.01838 is reclaimed. "Base case is more volatility with a bearish tilt — I see no reason to go long until the price clears $0.01838 with conviction."

Earlier, analysts noted that DeepBook was struggling to overcome key resistance levels as mixed momentum signaled caution for traders. The latest technical outlook underscores a deteriorating trend, making a decisive move below $0.01659 the pivotal risk to monitor in the days ahead.

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.