- Deep has risen after an important rebound from his demand zone, with open interest that hit an all time.
- Data on chains indicate a liquidity pool of $ 0.302 that can serve as a price magnet in the short term.
Deepbook reflected back from a considerable demand level around $ 0.045 on April 8, Deepbook [DEEP] Has steadily demonstrated upy momentum, rose by 77.2% and traded at the time of the press of $ 0.1927.
The steady upward trend continued to exist until the last two days, when the price experienced a sudden increase. This unexpected turnout surprised investors and analysts worldwide, deviate from the usual trend.
Given the high volatility of the cryptomarket, such events are not uncommon.
The Golf seems driven by increasing market optimism and increased trading activity, reflected in improved volumes and stronger price movements.
Source: TradingView
Open Interest Hits Record levels in the midst of Rally
As deep books [DEEP] Makes a milestone comeback, futures markets have risen in activity.
According to Coinglass data, the Open Interest (OI) of the Altcoin has reached a record high, which indicates greater participation and a growing bullish sentiment.
The timing of this peak suggests that most market participants expect further bullish rallies.
Although the rising OI supports a long -term momentum during strong rallies, it also increases the risk of increased volatility in the event of a sudden market.
Source: Coinglass
Liquidity pool on chains hints at the next target
A closer analysis of data on chains reveals a significant liquidity pool of around 402K at $ 0.302. This level could act as a price magnet, so that the Altcoin prices can be stimulated higher.
Liquidity pools often behave like gravitational zones and attract prices closer when they approach, especially when Bullish Momentum dominates. This magnetic effect is in line with the wider market sentiment as more traders enter the market.
Both derivative and botelangen are increasingly skewed in the direction of a bullish look, which enhances the upward trend.
Source: Coinglass
What is deep?
If the current momentum persists, the Altcoin will soon reach the $ 0.302 zone. However, if the rally weakens, taking a profit can occur, so that the pace of the profit may slide.
Nevertheless, deep liquidity and strong market interest rate support the current rally. With technical and on-chain signals in coordination, it remains deep in a bullish spotlight.
