DeepBook: Open Interest Sets a Record, Will DEEP Reach 0.302 USD?

* DEEP has risen to the sky after recovering from the bridge zone, with Open Interest reaching a record high.

• On-chain data indicates that the 302 K USD liquidity pool may act as a short-term price magnet.

After bouncing from significant support around 45 K USD on April 8, DeepBook [DEEP] has shown a steady upward trend, rising to the sky 77.2% and trading at 192.7 K USD at the time of writing.

The stable upward trend continued over the past two days, as the price unexpectedly surged, surprising investors and analysts worldwide, deviating from the usual trend.

However, with the high volatility of the cryptocurrency market, such cases are not uncommon.

This price increase appears to be driven by market optimism and increasing trader activity, reflected in improving volumes and stronger price movements.

Source: TradingView

Open interest reaches record levels amid the rise

When DeepBook [DEEP] makes a comeback, the futures market has increased activity.

According to data from Coinglass, the open interest (OI) of this altcoin has reached an all-time high, signaling increased participation and a developing optimistic sentiment.

The time to reach this peak indicates that most market participants expect there will be further strong price rises.

Although open interest increases during strong price rallies support sustainable momentum, it also increases the risk of high volatility in the event of a sudden market reversal.

! DeepBook: Open interest sets record, DEEP will reach $0.302? - Bitcoin News - Latest Coin News Updates 24/7 2025 Source: CoinGlass

On-chain liquidity pool suggests next target

A deeper analysis of on-chain data shows an important liquidity pool of about 402 K USD at the 302 K USD level. This level could act as a price magnet, potentially pulling altcoin prices higher.

Liquidity pools often act like attraction zones, pulling prices closer as they approach, especially when bullish momentum is dominant. This magnet effect aligns with the broader market psychology, as more and more traders enter the market.

Both derivative benefits and point assessments are increasingly leaning towards an optimistic view, reinforcing the upward trend.

Source: CoinGlass

Where will DEEP go next?

If the current trend continues, this altcoin will soon reach the 302 K USD zone. However, if the momentum weakens, profit-taking may occur, potentially slowing down the price rise.

However, deep liquidity and strong market interest support this price increase. With technical signals and on-chain consensus, DEEP still stands out in the optimistic spotlight.

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