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The DeepBook Protocol price has soared 45% in the last 24 hours to trade at $0.0834 as of 3 a.m. EST on a 27% surge in trading volume to $124 million.
DeepBook Protocol Price Indicates An Upcoming Bullish Rally
The DeepBook price chart on the 30-minute timeframe reveals a strong upward price movement followed by a period of consolidation. Initially, the price surged from around $0.0556, indicating a sharp bullish move, which likely attracted significant interest from traders.
This upward momentum led to the formation of a bullish pennant pattern, a continuation formation that suggests the potential for further upward movement after the consolidation period. The price is fluctuating within this narrowing triangle, with the resistance near $0.090000 and the support at approximately $0.08000.
DEEPUSDT Analysis Source: Tradingview
As the price approaches the apex of this pennant, it is primed for a breakout. If the price breaks above the resistance level of $0.090000, this could trigger another bullish rally, with targets potentially reaching $0.10102 or higher.
The presence of the 50-period simple moving average currently near $0.085517 shows that short-term momentum is still positive, while the 200-period simple moving average at $0.055599 suggests a strong support level far below the current price, indicating that the overall trend is bullish.
Additionally, the RSI (Relative Strength Index) is at 52.89, which is in neutral territory. This implies that the DeepBook Protocol price is not currently overbought, which may give the bulls an opportunity to drive the price further upward before reaching overbought conditions above 70.
The overall technical picture points to a potential bullish breakout, but traders should watch for a clear volume spike during the breakout to confirm its strength.
Crypto All-Stars Crosses $2.5 Million In Presale: Best Crypto To Buy Now?
As the bullish rally around the DeepBook Protocol price picks up momentum, investors continue to snap up meme coin rival Crypto All-Stars (STARS), which has already raised over $2.5 million in its presale.
Crypto All-Stars provides the first platform on which investors can stake meme coins in one place via its innovative MemeVault protocol. Rewards are earned in STARS tokens.
Popular YouTuber Jacob Bury, who boasts 43K subscribers, predicts that STARS could soar as much as 10X after its launch.
At launch, MemeVault will support 11 meme coins: Dogecoin, Shiba Inu, Pepe, Brett, Floki, Mog Coin, Milady, Turbo, Toshi The Cat, Coq Inu, and Bonk. And more will be added in the future. MemeVault will go live after the $STARS presale concludes.
What Is Crypto All-Stars?
Crypto All-Stars is set to revolutionize the meme coin sector with its innovative ‘Meme Vault’ platform. 💥
This is more than just another meme coin – it's an entirely new way to interact with the meme coin ecosystem!
— web3telepath (@web3telepath) August 15, 2024
Meanwhile, users can stake $STARS directly through the project’s native staking mechanism, which offers a huge 592% Annual Percentage Yield. Over 1.2 billion tokens have been staked so far.
Investors can buy $STARS using popular meme coins like FLOKI, SHIB, DOGE, and PEPE, as well as USDT, ETH, BNB, or bank cards.
Right now, $STARS is priced at $0.0015127. With a price hike coming in less than 22 hours, buy soon to secure the best deal.
Buy STARS on the official website here.
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