After a Recent Significant Upside Move of Over 430%, DeepBook [DEEP] Started Showing Early Signs of Exhaustion

After a recent significant upside move of over 430%, DeepBook [DEEP] started showing early signs of exhaustion as it moved into the overbought zone and began to be affected by profit-taking.

Some investors and traders appear to be closely monitoring the asset and even accumulating it, according to on-chain analytics firm CoinGlass.

Indeed, data from the Spot Inflow/Outflow metrics revealed that exchanges witnessed an outflow of a significant $870K worth of DEEP tokens over 48 hours. Such outflows from exchanges suggest potential accumulation.

紋章コインが売りに動き、保有者が資金を引き出し、価格が下落していることがわかります。一方、取引者のセンチメントは悲観的であり、取引者は大きくショートに傾斜していました。

DEEPのOI-Weighted Funding Rateは-0.2448%であり、この数値は、売りが優勢であり、近く価格が下落する可能性が大きいことを示しています。

At press time, DEEP was trading hands near $0.2067, a level that was influenced by a 15% drop in the last 24 hours.

During the same period, due to its downward momentum, traders and investors abandoned the token, resulting in a 55% drop in Trading Volume.

In addition, 19% of DEEP traders’ positions were liquidated during the same period due to the price decline. This notable drop in Open Interest, along with the price decline, indicates strong bearish momentum at the time.

According to AMBCrypto’s technical analysis, DEEP’s price appears to be overextended, and the chart suggests the asset may be preparing for a correction.

On the daily chart, a bearish engulfing candlestick pattern has emerged at the local top — a classic reversal signal.

Should this pattern confirm, DEEP could drop over 22%, with the $0.157 level acting as the next key target.

Momentum indicators have also started flashing red. DEEP’s RSI stood at 78, placing it firmly in overbought territory.

Moreover, the Chaikin Money Flow (CMF) sat at -0.05, further suggesting outflows and mounting sell-side pressure.

All combined — price action, technicals, and on-chain data — point toward exhausted bullish momentum. Having said that, unless accumulation grows stronger, a corrective move might be unavoidable before the next leg up.