Price Position and Structural State
DeepBook Protocol (DEEP) closed at 0.02894 USDT on May 29, 2026, down 1.73%. The asset now sits in a sideways structure near the bottom of its 55-day range. Current 55-day support is near 0.02638 USDT, with resistance near 0.04513 USDT. A daily close below 0.02638 USDT would confirm a downside regime shift. A hold near support would keep price inside the range.
Moving Averages and Trend Context
DEEP is trading below all key moving averages. MA100 at 0.03013 USDT stands as the first moving-average resistance area to watch. Price sits 8.51% below MA50, within its historical distance range of -51.03% to 44.10%. The moving-average structure is bearish without showing extreme downside extension.
Trading Friction and Price Efficiency
DEEP shows high trading friction, with a 3-day friction score of 31.3. The score combines price progress, wick rejection, and volume confirmation. Recent candles show contested movement, with weak price progress or heavier wick rejection. In this condition, moves near support or resistance carry less weight until price closes more cleanly.
Open Interest, Funding, and Positioning
Open interest increased +1.47% in one day but remains near the lower side of its 90-day range. This shows participation is improving from a low leverage base.
Funding is positive on the 24-hour average at +0.002099%, with the 7-day average also positive at +0.002390%. This shows sustained long-side cost pressure across both short and medium windows.
The long/short ratio is 1.64, showing more long accounts than short accounts. It sits near the middle of its 60-day range, so this is a long tilt without clear historical crowding.
Correlation, Beta, and Index Relationship
DEEP remains strongly linked to the broader crypto market (Sigloid Index), with beta indicating higher sensitivity to index movements. Correlation confirms that DEEP moves in line with the index, while R² shows that index behavior explains a significant share of its movement. Elevated beta means price tends to amplify broader market moves rather than simply track them. Over the 30-day window, the relationship is stable. Over the 60-day window, the relationship is stable. Over the 180-day window, the relationship is stable.
| Window | Correlation | Beta | R² | Read |
|---|---|---|---|---|
| 30D | 0.7 | 2.215 | 0.49 | Strong, high beta |
| 60D | 0.705 | 1.609 | 0.497 | Strong, high beta |
| 180D | 0.749 | 1.474 | 0.561 | Strong, high beta |
Momentum, Volatility, and Indicator Pressure
DEEP is moving more day to day, but participation remains weak. ATR% reads 9.44, near the lower side of its full historical range, while Bollinger Band width% reads 37.46, near the middle of its full historical range. 20-day Volume Z-score is -0.21.
Momentum is weaker. RSI is 40.29, ROC14 is -14.71%, and MACD histogram is negative. These readings point in the same direction: downside pressure is active, while recovery pressure remains limited.
The read is cautious: downside momentum is active, but volatility and participation do not confirm a strong break yet.
Broader Market Regime
The Sigloid Index remains in a sideways regime, showing no clear broad market direction. DEEP stays closely linked to that market condition, so changes in market sentiment can still influence price behavior even when the broader trend is unclear.
Key Levels for the Next State Change
For DEEP, the next structural shift depends on range boundaries. A daily close above 55-day resistance at 0.04513 USDT establishes a bullish regime, while a daily close below 55-day support at 0.02638 USDT confirms a bearish regime.