DeepBook (DEEP) showed impressive momentum, posting a 19% daily gain at press time and shifting sentiment back in favor of the bulls.
This strong move comes after a period of minimal price activity, highlighting strong buyer interest. As momentum builds, the key question is whether this surge will be strong enough to support further gains.
Accumulation signals emerge from on-chain divergence
DEEP’s on-chain metrics support the bullish scenario, according to recent reports. The divergence between DEEP’s adjusted price and daily active addresses has seen notable gains over the same period.
At the time of writing, the DAA adjusted price divergence stood at 0.031 after a small daily margin increase.
In most cases, this divergence reflects growing conviction among investors. Instead of looking for short-term moves, DEEP market participants appear to be positioning themselves for possible continuation.
If this investor behavior persists, it could help maintain the bullish momentum.
Source: Santiment
Trading volume confirms the strength behind the move
At the same time, DEEP’s trading volume also reacted to the price rise, seeing a significant increase during the same period.
Usually, rising volume alongside price validates a breakout, indicating that the rally is supported by high participation rather than low liquidity. This reduces the risk of a rapid reversal and strengthens the case for further upside.
Source: Santiment
Can DEEP test $0.04 resistance next?
From a technical perspective, the next key level investors are watching is near the psychological resistance at $0.04. This price level was the last key price inflection point that sparked the recent downtrend.
However, short-term consolidation cannot be ruled out. After a strong daily gain, brief pullbacks are common as traders lock in profits.
But the asset’s broader bullish structure remains intact as long as buyers defend recent support zones. The Stochastic RSI was in an oversold zone at the time of writing.
This confirms that the continuation of the upward trend is far from over in the short term.
Source: TradingView
What’s next for DEEP
That said, DEEP’s rally appears supported by improving on-chain activity, rising volume, and accumulation signals. If these trends continue, a move towards the $0.04 level seems increasingly plausible.
Final Thoughts
- DEEP’s adjusted price and active address divergence indicate continued accumulation.
- Heavy volume supports the bullish momentum, keeping $0.04 firmly focused.
