- DEEP has surged 77.2% after rebounding from its demand zone, with Open Interest hitting an all-time high, signaling strong bullish momentum.
- On-chain data points to a $0.302 liquidity pool that could act as the next price magnet if the rally continues.
DeepBook [DEEP] has captured the crypto community’s attention with a dramatic 77.2% price surge over the past two weeks, climbing from $0.045 to a high of $0.1927. This rally has been nothing short of electric, especially after DEEP rebounded from a well-established demand zone on April 8.
While the crypto market is no stranger to sudden breakouts, DEEP’s recent spike is backed by compelling on-chain metrics—chief among them, a record-breaking surge in Open Interest (OI). According to Coinglass, the OI has hit an all-time high, reflecting a significant influx of traders betting on continued upward momentum. Typically, rising OI during a price rally indicates sustained bullish sentiment, though it also comes with increased risk of volatility should momentum falter.
Also read: Bitcoin Price Dips After Breakout Rally — Will BTC Hit $97K Next?
The most intriguing development? A notable liquidity pool positioned at $0.302, which analysts suggest could act as a price magnet. On-chain data reveals approximately 402K in liquidity at that level—essentially a gravitational pull for DEEP‘s price, especially under prevailing bullish conditions. These pools are often where price action accelerates, driven by a mix of technical targeting and trader psychology.
What makes this rally especially promising is that both spot and futures markets are echoing similar bullish vibes. Volume has spiked, trader sentiment is positive, and DEEP appears to be entering a phase of aggressive accumulation.
But as always in crypto, euphoria must be balanced with caution. If the current rally slows, we could see some profit-taking that cools down the pace temporarily. Still, with robust liquidity and a wave of market interest propelling it forward, DEEP has a clear path toward that $0.302 target.
For now, the altcoin remains one of the hottest tickers to watch—its next moves could set the tone for the broader mid-cap altcoin landscape.
