DEEP slides over 10% as bearish momentum and downside gap weigh on crypto

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DeepBook slides 10.12% today

Highlights

DEEP/USD shows short-term upside momentum, but medium- and long-term trends remain decisively bearish.
Intraday signals are mixed, with buyers active yet overbought conditions evident, following a 10% session decline and volatile trading.
Price is likely to stay rangebound between $0.01508 and $0.02102 over the next five days, with a 61% probability of further downside.

Anton Kharitonov, expert at Traders Union, highlights sustained bearish momentum for DEEP. He notes the asset's failure to overcome both 50-day and 200-day moving averages, which emphasizes technical weakness. Kharitonov points to the lack of supportive news, compounding low investor confidence. While short-term buyers show some activity, overbought readings increase downside risks. "This setup suggests traders should stay defensive, as medium-term pressure remains dominant and volatility is likely to persist," Kharitonov states.

Viktoras Karapetjanc, expert at Traders Union, sees current price action as a potential opportunity for agile investors. He points out that DEEP maintains short-term strength above its 20-day moving average and enjoys positive momentum from intraday buyers. Karapetjanc believes that, if resistance at $0.0183 breaks, a fresh upside could emerge in the coming days. He emphasizes that no negative news headlines means sentiment may pivot quickly. "The bullish structure is intact on short timeframes, so I expect further growth if buyers press above $0.0183," the expert says.

Short-term buyers test limits as mixed momentum meets resistance

DEEP/USD is trading above the 20-day moving average at $0.01667, but remains below both the 50-day at $0.0211 and the 200-day at $0.02985. This signals short-term strength but continued medium- and long-term selling pressure, as the overall trend remains bearish. Immediate support is at $0.01698 (Ichimoku Kijun), while resistance sits at $0.0183. Momentum readings are mixed: the MACD reflects strong selling pressure, but the ADX and several oscillators (RSI, Stochastic RSI, CCI, Bull/Bear Power, Awesome Oscillator) tilt positive or are overbought. Bull/Bear Power shows buyers dominating intraday momentum, yet both Stochastic RSI and CCI warn of overbought risk. The session was volatile, with DEEP/USD near its daily low after a 10.12% slip and an opening downside gap, highlighting the ongoing struggle between active buyers and downward momentum.

Earlier, analysts noted that DeepBook was facing persistent bearish pressure, with downside risks outweighing short-term recovery prospects. With momentum signals now mixed and volatility elevated, traders should watch for a decisive move above $0.0183 or below $0.01698 to indicate the next significant trend direction.

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

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