Jupiter Price Prediction: Will It Extend to $1 Mark Soon?

• The trading volume of Jupiter has surged by 104% in the last 24 hours.
• JUP crypto price has witnessed a bullish spike of 9.489% in the past 24 hours.
• The JUP crypto price is up by 17.47% in the last 5 days.

The Jupiter (JUP) price has been in a bearish trend since the beginning of this month, and a slow and continuous decline in the price has been witnessed. The price is unable to sustain the last swing high because sellers are in control. 

According to the technical chart, the JUP price has melted to the $0.470 level, and the buyers pushed the price, but sellers again dragged down the price to the $0.470 mark, but the buyers were strong enough and lifted the price by 16% in five days.

The current market price of JUP is $0.512, which has risen by 2.09% in the last 24 hours. The market capitalization is $693 million, and the fully diluted market cap is $5.13 billion. The trading volume is $266 million, and according to the trading volume, it ranks 52nd in the cryptocurrency market.

As one of the industry’s most advanced swap aggregation engines, Jupiter excels in delivering essential liquidity infrastructure for the Solana ecosystem. Moreover, Jupiter is actively expanding its DeFi product offerings, featuring a comprehensive suite that includes Limit Order, DCA/TWAP, Bridge Comparator, and Perpetuals Trading.

Jupiter Crypto Price Technical Analysis Over Daily Timeframe

The JUP crypto price has been in a bearish trend on a daily time frame and continuously faces rejection from the $0.540 mark. The current candlestick is facing rejection from the same level. 

If the JUP token price fails to sustain the $0.540 mark, which faces resistance from the 20-day moving average, it may fall to the support level of $0.450. If the price drops to the $0.450 level and defends this level, buyers may lift it again by approximately 15%.

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However, if the JUP price fails to defend the $0.450 mark, the sellers may dominate, and a sharp fall can be seen. Alternatively, if the price rises and surpasses the resistance level of $0.560, buyers may become interested, leading to a bullish trend.

If the Jupiter chart structure attracts buyers and sustains the $0.600 mark, the price will gain bullish momentum, and an all-time high can be achieved soon.

Technical Analysis of JUP on 4-H Timeframe

In a 4-H time frame, the Jupiter token price has been declining by facing resistance from the declining trendline. The JUP crypto price has risen to the trendline and fell by 3.78%. 

If the price slips below the 20-day moving average and sustains, it may melt to the support level of $0.450. But if the price bounces back and surpasses the trendline, the buyers may soon lift the price to the resistance level of $0.600.

RSI is at 55, slowly rising from the oversold zone and heading for the overbought zone. The price is trading near the significant moving average, suggesting neutral sentiment.

Conclusion

Based on the technical analysis and market trends, the Jupiter (JUP) crypto price has witnessed a bullish spike in the past 24 hours and has shown some positive signs in the last 5 days. However, the price has been in a bearish trend since the beginning of this month and has faced resistance from several key levels. If the price fails to sustain the current resistance levels and falls to the support level, the sellers may dominate, and a sharp fall can be seen.

Technical Levels

Resistance: $0.560 & $0.700

Support: $0.480 & $0.450

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.