DeepBook Crypto Skyrockets 2x in Just 24 Hours – Is DEEP About to Shatter Its All-Time High?

Updated

April 23, 2025

Gambar DeepBook Crypto Skyrockets 2x in Just 24 Hours – Is DEEP About to Shatter Its All-Time High?

Jakarta, Pintu News – On April 15, 2025, DeepBook announced that version 3.1 of its protocol will soon be launched on the Sui network , bringing features such as permissionless liquidity pools, lower transaction fees, and deeper liquidity.

Then, on April 22, Binance announced that the DEEP token would be available on their futures platform, which immediately triggered a massive price spike.

On the same day, South Korean crypto exchange Upbit also announced the listing of DEEP, further strengthening the upward price trend.

The token of the DeepBook protocol has doubled and continued to climb until today (23/4), approaching its highest recorded price of $0.344.

Will DEEP be able to maintain its momentum and set a new record high, or will this rally stall? Let’s find out.

DEEP Crypto Price Doubles

According to CCN (23/4), analysis on the daily time frame shows that DEEP broke through the downward resistance trend line on April 9. After that, DEEP managed to reclaim the horizontal resistance area at $0.090, signaling that the downward trend has ended.

DEEP’s price rally turned parabolic on April 22, along with the announcement of listing on Binance and Upbit. Today (23/4), DEEP’s price peaked at $0.230, touching the 0.618 Fibonacci retracement resistance level.

Although technical indicators are showing overbought conditions, no bearish divergence signals have formed yet. Neither the relative strength index (RSI) nor the Moving Average Convergence/Divergence (MACD) indicators show any signs of weakening.

If DEEP’s rally continues, then the all-time high is only about 66% away.

Will Crypto’s DEEP Rally Continue?

Just like on the daily time frame, the RSI and MACD indicators on the six-hour chart show no signs of weakening despite being in the overbought zone. However, wave count analysis indicates that DEEP’s price rise may be coming to an end.

The wave count shows that a five-wave upward movement (marked in green) has been completed, where DEEP is currently in the fifth wave. Furthermore, the sub-wave count shows that the fifth wave may have ended or be in its final phase.

The fact that the price is currently at the 0.618 Fibonacci retracement resistance level also supports this prediction. This price increase is likely to be wave A in the A-B-C corrective pattern, although there is a potential short-term top.

As such, DEEP prices may experience a correction to the 0.5-0.618 Fibonacci support area in the range of $0.116-$0.142, before resuming its uptrend.

Local Peak is Near

In the last two days, DEEP led the crypto market rally with a price surge of more than 100%.

The price has now touched the crucial Fibonacci resistance level, although in terms of price movement there are no signs of weakening.

However, based on wave count analysis, DEEP prices are expected to reach a local peak soon and start a downward correction phase in the near future.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

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