DeepBook [DEEP] has shown impressive momentum, recording a 19% daily gain at press time and shifting sentiment back in favor of the bulls.
This sharp move comes after a period of minimal price activity, highlighting strong buyer interest. As momentum builds, the key question is whether this surge has enough strength to sustain further gains.
Accumulation signals emerge from on-chain divergence
DEEP’s on-chain metrics support the bullish case, according to recent reports. The divergence between DEEP’s adjusted price and Daily Active Addresses has recorded notable gains over the same period.
At the time of writing, the Adjusted Price DAA Divergence stood at 0.031 after a daily narrow margin surge.
In most cases, such divergence reflects growing conviction among investors. Instead of chasing short-term moves, participants in the DEEP market seem to be positioning for a potential continuation.
If this investor behaviour persists, it could help sustain upward momentum.
Source: Santiment
Trading volume confirms strength behind the move
At the same time, DEEP’s trading volume has also reacted to the price gain, recording a significant increase over the same period.
Usually, rising volume alongside price validates a breakout, indicating that the rally is backed by strong participation rather than thin liquidity. This reduces the risk of a quick reversal and strengthens the case for further upside.
Source: Santiment
Can DEEP test the $0.04 resistance next?
From a technical perspective, the next key level under investor scrutiny lies near the $0.04 psychological resistance. That price level was the last key price inflection point that initiated the recent bearish run.
However, short-term consolidation cannot be ruled out. After a sharp 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 as of writing.
This affirms that the bullish run continuation is far from over in the near 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 looks increasingly plausible.
Final Thoughts
- DEEP’s adjusted price and active address divergence point to ongoing accumulation.
- Strong volume supports bullish momentum, keeping $0.04 firmly in focus.
