Jupiter (JUP) price has experienced a significant surge of around 20% intraday, indicating a strong bullish trend. The Solana-based token has surpassed its previous swing high after a pullback. The price has formed a cup and handle pattern on the daily technical chart, with a powerful buying candlestick of over 20%. This has activated a pullback after finding support on the 20-Day moving average.
If the current candlestick reaches and sustains the $0.700 mark, it could boost investor confidence and potentially propel the price towards the $1 mark in the coming weeks. However, if the price fails to sustain above $0.700 and drops below the $0.600 level, it may trigger stop losses and lead to a sharp fall in the next few days.
In terms of technical analysis, the Jupiter crypto price has reached its previous swing high and achieved an all-time high of $0.710. It formed a double bottom pattern near $0.450 in early February and has been on a bullish trend since the last week of February, increasing by 37% in 10 days to reach the last swing high.
At the time of writing, the Jupiter price is trading at $0.71, experiencing a 20.59% surge in the past 24 hours. The market capitalization is $920.44 Million, and the trading volume for the last 24 hours is $338.15 Million. The RSI is at 66, heading towards the overbought zone, indicating strong bullish momentum. The price is also trading above significant moving averages, signaling buyer dominance.
Based on this analysis, it is evident that Jupiter (JUP) crypto price is bullish and has broken its previous high, reaching a new record of $0.710. The RSI and moving averages further support this bullish sentiment. If the price remains above $0.700, there is potential for it to reach the $1 level in the next few weeks.
Resistance levels for Jupiter include $0.75 and $0.85, while support levels are at $0.60 and $0.50.
Disclaimer: This article serves as informational content and does not provide financial or investment advice. The author and individuals mentioned are not liable for any financial losses incurred from trading or investing. It is recommended to conduct thorough research before making any financial decisions.
Author Bio:
Andrew Smith is a blockchain developer with a passion for cryptocurrencies. He developed an interest in cryptocurrencies during his post-graduate studies in blockchain development. Andrew combines his understanding of blockchain with his writing skills to provide a unique perspective on topics such as blockchain programming, languages, and token minting. He also shares technical details and performance indicators of ICOs and IDOs.