Reflections
The slime on the transducer redirects (acts like a lense) the sound beam giving a slant path much longer than the actual depth.
Something on the bottom is causing a strong reflection but it is "off beam" by quite a lot. The strongest beam is supposed to be the shortest path (aka depth) but depending on the make up of the bottom that beam may be getting absorbed resulting in the objects distance from the transducer being measured and not the depth.
Sloping bottom reflecting the beam into the water and it reflects of nearby pilings resulting in longer beam paths.
Your transducer is reacting to someone elses sonar pings
You have a kid with a play station nearby and are getting interferance. Also seen PS2, and even a powerful cell phone with a game being played cause a whole host of "demon infestation" problems
See if your control head has a setting for narrow beam. This tends to reduce the problem.
Also check for a high or low power setting (also high and low boat speed) and set it to low.
Check the cable ground on the transducer wires and control head.