- Jupiter recovers from the $0.426 support level, which shows renewed buying interest.
- Technicals suggest a break above $0.464 will reach the $0.498 target.
- Consolidation within $0.430 and $0.430–$0.440 suggests a forthcoming directional move.
Jupiter (JUP), currently trading at $0.4459, has experienced a week of mixed sentiment, with price action reflecting both downside pressure and emerging signs of recovery.
The 24-hour volume for the altcoin is $38.53 million, with a market capitalization of $1.33 billion. While Jupiter (JUP) rebounded 2.4 in the day, still posting a loss for the week at 1.88%, Jupiter’s trajectory highlights renewed interest among speculators after losses earlier in the week.
The 7-day pattern reveals a market in volatile action. The week had started with aggressive selling pushing the asset to its support at $0.426.
This bearish stretch began to unwind when buying interest weakened the price progressively on July 2. A fast recovery then ensued, with JUP reaching as high as $0.475 before being countered with firm resistance.
The correction was just as fast and characteristic of fast profit-taking as witnessed in a long red midweek candlestick pattern. This rejection formed a turning point for JUP to move back to a narrow $0.430-$0.440 range.
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Jupiter Consolidation Signals Breakout Toward $0.498 Target
Following rejection in the vicinity of highs, JUP broke into a narrow consolidation area. The price remained stable in a $0.010 channel, going back and forth between $0.430 and $0.440.
This was with low volume and small candlestick bodies, typical signals of indecisiveness and equality among buyers and sellers.
This lateral movement persisted for longer than two days to allow the market to settle and absorb the latest volatility. But the tone changed significantly on July 6 when a bullish candle drove the price to $0.450 with a small volume spike.
This move is indicative of renewed confidence among the bulls, but a convincing close through resistance will be required to sustain further upside. On the latest momentum and chart setup, JUP has the $0.498 level in its crosshairs if bullish pressure persists.
Indicators Point Toward Potential Upside Break
There are a few technical indicators suggesting the potential for JUP to prepare for yet another bullish leg. Bollinger Bands are in compression, typically followed by volatility expansion.
Meanwhile, the Relative Strength Index (RSI) is at 46, with neutral momentum and bullish potential still intact. And meanwhile, the MACD is heading to a bullish crossover, which can be confirmation of a growing bullish trend.
Traders are keeping a keen eye on the $0.464 level as a breakpoint. A convincing breakout through this could suggest strength and pave the road to $0.498 in the near term. A break below $0.421 will snuff out bullish dreams.
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