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the past structure in 2024, Jupiter (JUP) investors enjoyedPrice Action Overview Of Jupiter (JUP) As per the past structure in 2024, Jupiter (JUP) investors enjoyed a strong start. The first quarter saw significant growth, with the price rising from the demand zone at $0.499 to a peak of $1.840 by the end of March, marking a gain of over 330%. However, the second quarter began on a less positive note. The price declined, breaking the uptrend and forming lower lows, leading to a downward channel on the daily chart. This channel was characterized by sharp movements along its upper and lower borders. On July 5th, the price hit the lower border and rebounded. Since then, it has maintained a support level at $0.6647, avoiding a return to the demand zone. Bullish indicators suggest uncertainties. Despite this, in the optimistic case, if the bullish trend continues on the daily chart, the $0.92 level is crucial. Surpassing this level could indicate a Change of Character and a break above the upper border. The bulls must surpass the trendline resistance to register a breakout over the daily chart. On a sustained breakout, Jupiter may resume its journey towards the higher supply of $1.25, and $1.75 level. On the lower side, if Jupiter's price breaks below the $0.7 support, it may validate a breakdown, and the price may resume its journey towards the lower support of $0.65 and $0.6.
BITFINEX:JUPUSDLong
by Sam_TCR
Jupiter Stabilizes At Lowes: Can JUP Be A Bullish Bet In SeptJupiter Stabilizes At Lowes: Can JUP Be A Bullish Bet In September? At the time of writing, Jupiter was exchanging hands close to $0.726, recording a bearish intraday development of 1.51%. The development activity curve was headed higher indicating recent updates and changes in the asset. Amid the broader market's turmoil, Jupiter price seemed to be stabilizing near the monthly support of $0.70. The broader market's weakness seemed to be impacting the price of altcoin and limiting its performance. For instance, In the recent sessions, Jupiter exchange disclosed borrowing fees for Bitcoin, Ethereum and Solana over their platform. Despite the positive news, JUP token's price has remained relatively muted in the last couple of sessions. It might be due to the increased investors' concerns after Bitcoin has loomed towards $56K and Ethereum has stepped below the psychological $2500 mark. However, the surge in the development activity and transaction volume suggests some sort of recovery round the corner. Let's analyze and try to find whether Jupiter may continue to follow market leaders and suffer more or can it stabilize and head for a recovery. Lowered Borrowing Rates Leaves Muted Impact On JUP Price Recently, Jupiter announced a reduction in borrowing rates for three major crypto assets after community feedback. According to a post by Jupiter Exchange on X (formerly known as twitter), the platform reduced the borrow rate per hour from 0.01% to 0.008% for Bitcoin, Ethereum and Solana. x.com Also, the reduction in trade open/close fee from 0.1% to 0.06% was announced by the platform. The community as well as several X users found it a positive news for the traders and investors. However, Jupiter price experienced muted impact following the news and has been on a consolidation near the support since then. However, the transaction volume has observed a significant growth over the last few sessions. The transaction volume has surged from $44 Million a day to $64 Million indicating a heightened demand. The volume to market cap ratio at 5.42% suggests low volatility in the crypto. Moreover, As per the data obtained from an on-chain analytics website app.santiment.net, a notable change was observed in the development activity of Jupiter. The development activity as well as the developers activity contributors count graph has surged indicating the crypto undergoing some changes and updates. Can Jupiter Head For A Recovery In September? From a technical point of view, Jupiter price was hovering below the key EMAs of 20, 50 and 200 days indicating a prevailing bearish trend. Also, the broader markets remain in the red zone with Bitcoin price sliding towards the $56K levels. However, the daily chart highlights the formation of a descending triangle pattern with an upper trendline acting as a resistance and psychological $0.7 level acting as a support. As of now, Jupiter was exchanging hands close to $0.70, registering a bearish intraday development of 1.51%. On the lower side, if Jupiter price breaks below the recent support of $0.7 level it may validate a breakdown and the price may resume its journey towards the lower support of $0.65 and $0.6 levels. On the contrary, the bulls need to surpass the trendline resistance in order to register a breakout over the daily chart. On a sustained breakout, Jupiter may resume its journey towards the higher supply of $1 level.
BITFINEX:JUPUSDLong
by Ritika_TCR
performance led to a downward channelPrice Action Overview Of Jupiter (JUP) A look at Jupiter's chart showed that 2024 was delightful for the JUP's investors. Starting from Feb-end of 2024, showed major development on the chart from the demand zone at the $0.49 level. As the price advanced higher by more than 330% and peaked at $1.84 by March-end and gave a strong performance in the first quarter. However, the beginning of the second quarter was drastic, as the price slipped and violated the uptrend by formulating lower low peaks. The performance led to a downward channel over the daily chart, where it ideally followed the top border and lower border sharply. The last time, on July 5th, the price struck the lower border, and as a result, it bounced back. Since then, it's followed a support level of 0.7265 and has not cracked down to the demand zone yet. Therefore, major bullish indicators signify further bullishness, and so does if bullishness prevails on the daily chart. In that case, the $1.20 level could be worth monitoring, as above this level, a Change of Character is present followed by the breach of the upper border.
BITFINEX:JUPUSDLong
by Sam_TCR
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. 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.
BITFINEX:JUPUSDLong
by Ritika_TCR
Are JUP Bulls Ready To Rally For A New High?Jupiter has a market cap of $1.049 Billion and is ranked 69th in the cryptoverse.The volume of the asset price has seen a growth of 5% in the past 24 hours. The VM ratio of the JUP price is suggesting a consolidated trend in price. JUP token price is currently trading near $0.77 with a growth of 0.61% in the intraday session. Jup token price is currently forming weak bullish candles on the daily chart. It is trading below the 50 and 100 EMA on the daily chart. The upside trend of the JUP can see a halt near the value of $1. Meanwhile, the support of the asset price can be seen near $0.7. The RSI of JUP is near 32 suggesting its presence in the neutral zone. The overall sentiment of the indicator is bearish in nature.
KRAKEN:JUPUSD
by Ritika_TCR
Can Enhanced Sentiments Propel Jupiter to Revisit Monthly Highs?Can Enhanced Sentiments Propel Jupiter to Revisit Monthly Highs? Jupiter Crypto has been navigating a compelling channel pattern, indicating potential volatility and trading opportunities. The surge in development activity hints at impending significant updates, signaling a proactive approach to innovation and improvement. Jupiter crypto was down for the last four intraday sessions after suffering rejection from the higher levels. Nonetheless, a resurgence of buying interest has emerged, leading to a notable recovery in its value. Currently, the cryptocurrency was trading around the $1.1 mark, having achieved a prompt rise of 1.34% within the day. Additionally, there's a noticeable uptick in development activities, and the daily chart is presenting a captivating formation. Taking into account all these elements, let's delve deeper to discern the potential trajectory of Jupiter crypto price. Significant Improvement In The Development Activity! According to information from the financial analytics platform app.santiment.net, there's a noticeable upward trend in the development activity curve. The past month has seen a surge exceeding 50% in this area. This significant increase points to the likelihood of substantial updates and enhancements forthcoming. Moreover, this heightened development activity is a measure of the ongoing projects and advancements within the cryptocurrency space. It serves as an indicator of the cryptocurrency's potential for sustained growth over time. The JUP/USD 1-D Chart Reveals An Interesting Channel Pattern The daily chart for Jupiter crypto reveals an ascending parallel channel pattern, with the price oscillating between the channel's upper and lower limits. The cryptocurrency recently faced a setback at the channel's upper edge, prompting a move towards the lower edge for potential support. Currently, the $1.5 mark is serving as a significant resistance level, while $0.9 is providing substantial support. Now, as long as Jupiter crypto's price action remains within this channel, it's expected to respect these boundaries as its primary support and resistance zones. A decisive move beyond the channel's confines could signal a definitive trend direction for the cryptocurrency. Conclusion. Jupiter crypto experienced a downturn in four intraday sessions but has seen a 1.34% recovery to trade at $1.1. Moreover, the development activity has spiked by over 50%, hinting at major upcoming updates. This activity suggests long-term growth potential. Furthermore, The daily chart shows a rising channel pattern, with current resistance at $1.5 and support at $0.9. Stability within this channel could maintain the current support and resistance levels, while a breakout could indicate a new trend for Jupiter's price.
KRAKEN:JUPUSDLong
by Ritika_TCR
1
Jupiter (JUP) Safeguards The Third Rank Beating OthersJupiter (JUP) Safeguards The Third Rank Beating Others In the past week, Jupiter (JUP) experienced a notable ascent, climbing 21.1% and securing its position as the third top gainer in the crypto market. With a market cap of $1.69 billion, Jupiter stands at the 56th spot. Its remarkable performance is further highlighted by a 24-hour trading volume of $258.27 million, reflecting a surge in investor interest and market transactions. Technically, the Relative Strength Index (RSI) demonstrates a bullish crossover, suggesting a continued positive trend. The RSI and Simple Moving Average (SMA) are both trending above the midpoint, reinforcing the bullish sentiment. For short-term investors and traders, the $1.5 and $2 price points could serve as the next targets for Jupiter's upward trajectory.
BITFINEX:JUPUSDLong
by Ritika_TCR