DeepBook falls around 10.5% as sharp selling pressure and bearish momentum fuel downtrend

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Deepbook slips 10.40% today

Highlights

DEEP/USD is trading below key short, medium, and long-term moving averages, showing persistent downward pressure across timeframes.
Momentum indicators are mixed with waning strength and a mild oversold stance, as sellers dominate intraday trading.
DEEP/USD is forecast to trade between $0.01351 and $0.02083 in the next five days, with a 65% probability of further downside.

Anton Kharitonov, expert at Traders Union, sees persistent weakness in DEEP given the lack of positive news and dominance of bearish technicals. He points out clear vulnerability, with prices unable to reclaim any key moving averages and momentum readings showing exhausted demand. Weak intraday sentiment and negative BBP reinforce the lack of bullish conviction. Kharitonov warns that support at $0.01351 is alarmingly distant. "This kind of sustained negative pressure without news catalysts leaves DEEP highly exposed to further declines."

Viktoras Karapetjanc, expert at Traders Union, notes that while short-term movement is negative, the market may soon present new opportunities. He highlights that periods of technical weakness can set the stage for a strong rebound, especially if sentiment shifts or buyers return. The wide volatility band offers attractive setups for tactical traders seeking entries near strong support. "Despite the recent setback, I expect further growth for DEEP when conditions stabilize and buyers step up."

Jainam Mehta, market strategist, views DEEP's current range as precarious but not without opportunity. He sees mixed indicator signals suggesting sideways consolidation, yet the risk of breakdown below $0.01351 remains in play. Mehta suggests that a contrarian move could develop if oversold conditions persist. "Traders should watch for tactical bounce setups if price stabilizes, but remain vigilant for further downside risk."

Sustained bearish trend as price lags key averages

DEEP/USD is trading below the 20-day ($0.02179), 50-day ($0.01937), and 200-day ($0.02141) moving averages, indicating sustained selling pressure across short, medium, and long-term trends. The prevailing trend remains bearish, with resistance near the session low at $0.01812 and strong support far below at $0.01351. Momentum indicators are mixed as the MACD shows a neutral stance and the Average Directional Index (ADX) signals mild trend strength. The Relative Strength Index (RSI) is at 47.11 and the Commodity Channel Index (CCI) at -87.44, both showing waning momentum and a mildly oversold position. Bull/Bear Power (BBP) is negative, reflecting intraday selling dominance. Both the Stochastic RSI and Awesome Oscillator are neutral, highlighting the lack of clear directional momentum.

Earlier, analysts noted that DeepBook was experiencing persistent bearish momentum as it struggled below key technical levels. The latest analysis strengthens this outlook, with the prevailing scenario pointing to continued downside risk and the importance of monitoring the $0.01351 support for further weakness.

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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