Altcoins News
By Julie Binoche
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DeepBook (DEEP) is generating buzz in the crypto market after its price surged by 35% within a short period.
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The breakout above the trendline occurred after DEEP consolidated around the $0.15 mark, indicating growing market interest. As of the latest data, DEEP was trading at $0.
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Technical indicators also support the bullish trend. The MACD (Moving Average Convergence Divergence) line crossed above the signal line, a classic sign of a rising market trend.
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DEEP now has the opportunity to revisit its previous all-time high of $0.34588, but this depends on maintaining its momentum. If the price stays above the $0.
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However, the price is not without risk. If DEEP fails to maintain its position above $0.23, it could fall back to the $0.15 level, which has recently become a critical resistance.
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A look at the liquidation heatmap reveals that long traders have significantly increased their leverage at the $0.2217 price point.
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On the other hand, short-sellers appear to be backing away. As short positions decrease, there is less resistance from the bearish side, which could facilitate a further rally.
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While the bullish sentiment is evident, the market remains vulnerable to sudden reversals. If DEEP’s price drops to $0.
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DEEP's 35% surge has positioned the altcoin for potential further gains, with a chance to hit a new all-time high if momentum holds. Key levels to watch are $0.
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