The DeepBook Protocol price surged 22% in the last 24 hours to trade at $0.03206 as of 08:06 a.m. EST on trading volume that plunged 36% to $43.4 million.
DeepBook Protocol Price Aims For A Trend Continuation
The DeepBook Protocol price has been bullish in the last two days. Yesterday, the $0.039 resistance allowed the price to move in what looks like an ascending triangle, according to data from GeckoTerminal.
DEEP has sustained its movements above the 50-day Simple Moving Average (SMA), which supports the bullish stance.
However, the RSI seems to be dropping below the 50-midline level, currently at 48, as it moves down, which is a sign that the bears are exerting pressure.
If this pressure continues, the DeepBook Protocol price may plunge to the 50-day SMA at $0.02791 support.
DEEPUSD Chart Analysis Source: GeckoTerminal.com
Meanwhile, the ascending triangle pattern may push the bulls to sustain the recent uptrend. In such a scenario, investors are eyeing a continued rally for the price of DeepBook, the $0.05 resistance in the long term.
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