Buy Signal Flashes As Jupiter (JUP) Price Hits Monthly lows
Buy Signal Flashes As Jupiter (JUP) Price Hits Monthly lows
Jupiter price bounced back from the monthly lows flashing a buy signal for the investors.
The weighted sentiment curve has shifted above the zero line highlighting a bullish scenario.
Jupiter's price gained traction and jumped nearly 10% yesterday after retracing the monthly lows. The panic in the broader markets triggered a sharp selling from in the recent sessions which now seems to be fading away.
The bulls are in domination for the second consecutive session due to which JUP price is trading higher creating potential for more room on the higher side. The price performance highlights a 20% growth a month despite being down over 20% a week.
Moreover, the recent recovery is supported by a popular on-chain metrics: weighted sentiment adding confidence to the investors. Let's delve deeper and try to analyze the further upside or downside potential in crypto.
Weighted Sentiment Curve Flashes Positive Signal
Jupiter price has bounced back from the recent demand and monthly lows of $0.69 level indicating the presence of bulls near the support. Moreover, the volume to market cap ratio at 15.93% suggests high volatility in the crypto. It has a live market capitalization of $1.19 Billion and ranks 56th in the cryptoverse.
<iframe title="Santiment Chart: Negative sentiment (Total) (JUP), Positive sentiment (Total) (JUP), Weighted sentiment (Total) (JUP)" width="800" height="425" src="embed.santiment.net/chart?ps=jupiter-ag&pt=JUP&df=2024-07-06T18:30:01.495Z&dt=2024-08-07T18:29:59.495Z&emcg=1&emhwm=1&wm=sentiment_negative_total;sentiment_positive_total;sentiment_volume_consumed_total&wax=0;1;2&wc=#FF5B5B;#FFCB47;#5275FF&ws={"interval":"1h"};{"interval":"1h"};{"interval":"1h"}" scrolling="no"></iframe>
Source: app.santiment.net
As per the data obtained by an on-chain analytics website app.santiment.net, there has been a strong recovery in positive sentiment in the last couple of sessions. As a result the weighted sentiment curve has shifted to a positive side.
The weighted sentiment curve has surpassed the zero line and has reached the bullish zone indicating an improved sentiment among the investors. The weighted sentiment curve highlights a combined biasness of the investors whether it is bullish or bearish at the moment.
Can Jupiter Price Head For a Recovery?
The recent downturn in the markets has dragged Jupiter's price near the July month lows. However, the bulls seemed to have defended the monthly lows indicating strength in the crypto. Also, the shift in weighted sentiment curve in the bullish zone adds confirmation to it.
Also, the daily chart highlights a sideways and range bound trend in the last three months with $0.7 as support and $1.18 as resistance. Now, any breakout or breakdown on either side may clarify the trend.
Recently, The bulls have registered their presence near the recent $0.69 level and price has taken a rebound. On the higher side, the JUP price has more room till $1.18 indicating a nearly 40% potential. Also, the $1.18 level may act as a hurdle which once surpassed may indicate a bullish breakout.
The MACD line and signal line has indicated a convergence suggesting a potential bullish crossover. The indicators are leaving a positive note on a combined analysis.
Jupiter's price bounced back nearly 10% after hitting monthly lows of $0.69, indicating strong support from bulls. The volume to market cap ratio at 15.93% suggests high volatility. Moreover, on-chain data shows a recovery in positive sentiment, with the weighted sentiment curve turning bullish.
Furthermore, the daily chart shows a range-bound trend between $0.7 and $1.18. A breakout above $1.18 could signal a bullish continuation. The MACD line and signal line convergence suggests a potential bullish crossover, indicating positive momentum. On the higher side, Jupiter price has room to rise to $1.18, a 40% potential increase.
Keyword: Jupiter price
Meta Description: Jupiter price bounced back nearly 10% after hitting monthly lows, indicating strong support from bulls.
Jupiter price bounced back from the monthly lows flashing a buy signal for the investors.
The weighted sentiment curve has shifted above the zero line highlighting a bullish scenario.
Jupiter's price gained traction and jumped nearly 10% yesterday after retracing the monthly lows. The panic in the broader markets triggered a sharp selling from in the recent sessions which now seems to be fading away.
The bulls are in domination for the second consecutive session due to which JUP price is trading higher creating potential for more room on the higher side. The price performance highlights a 20% growth a month despite being down over 20% a week.
Moreover, the recent recovery is supported by a popular on-chain metrics: weighted sentiment adding confidence to the investors. Let's delve deeper and try to analyze the further upside or downside potential in crypto.
Weighted Sentiment Curve Flashes Positive Signal
Jupiter price has bounced back from the recent demand and monthly lows of $0.69 level indicating the presence of bulls near the support. Moreover, the volume to market cap ratio at 15.93% suggests high volatility in the crypto. It has a live market capitalization of $1.19 Billion and ranks 56th in the cryptoverse.
<iframe title="Santiment Chart: Negative sentiment (Total) (JUP), Positive sentiment (Total) (JUP), Weighted sentiment (Total) (JUP)" width="800" height="425" src="embed.santiment.net/chart?ps=jupiter-ag&pt=JUP&df=2024-07-06T18:30:01.495Z&dt=2024-08-07T18:29:59.495Z&emcg=1&emhwm=1&wm=sentiment_negative_total;sentiment_positive_total;sentiment_volume_consumed_total&wax=0;1;2&wc=#FF5B5B;#FFCB47;#5275FF&ws={"interval":"1h"};{"interval":"1h"};{"interval":"1h"}" scrolling="no"></iframe>
Source: app.santiment.net
As per the data obtained by an on-chain analytics website app.santiment.net, there has been a strong recovery in positive sentiment in the last couple of sessions. As a result the weighted sentiment curve has shifted to a positive side.
The weighted sentiment curve has surpassed the zero line and has reached the bullish zone indicating an improved sentiment among the investors. The weighted sentiment curve highlights a combined biasness of the investors whether it is bullish or bearish at the moment.
Can Jupiter Price Head For a Recovery?
The recent downturn in the markets has dragged Jupiter's price near the July month lows. However, the bulls seemed to have defended the monthly lows indicating strength in the crypto. Also, the shift in weighted sentiment curve in the bullish zone adds confirmation to it.
Also, the daily chart highlights a sideways and range bound trend in the last three months with $0.7 as support and $1.18 as resistance. Now, any breakout or breakdown on either side may clarify the trend.
Recently, The bulls have registered their presence near the recent $0.69 level and price has taken a rebound. On the higher side, the JUP price has more room till $1.18 indicating a nearly 40% potential. Also, the $1.18 level may act as a hurdle which once surpassed may indicate a bullish breakout.
The MACD line and signal line has indicated a convergence suggesting a potential bullish crossover. The indicators are leaving a positive note on a combined analysis.
Jupiter's price bounced back nearly 10% after hitting monthly lows of $0.69, indicating strong support from bulls. The volume to market cap ratio at 15.93% suggests high volatility. Moreover, on-chain data shows a recovery in positive sentiment, with the weighted sentiment curve turning bullish.
Furthermore, the daily chart shows a range-bound trend between $0.7 and $1.18. A breakout above $1.18 could signal a bullish continuation. The MACD line and signal line convergence suggests a potential bullish crossover, indicating positive momentum. On the higher side, Jupiter price has room to rise to $1.18, a 40% potential increase.
Keyword: Jupiter price
Meta Description: Jupiter price bounced back nearly 10% after hitting monthly lows, indicating strong support from bulls.
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