Rally

Jupiter

Reversal

The post <a href="https://coinpedia.org/price-analysis/will-a-bullish-reversal-drive-jup-price-breakout-rally-to-2/">Will A Bullish Reversal Drive JUP Price Breakout Rally To $2?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
With a bullish recovery last night, JUP price projects a high likelihood of a positive turnaround to sustain dominance above $1. However, the constant struggle with a periodic rise in supply keeps the altcoin under stress.&nbsp; 
With high anticipation of a broader market recovery, will Jupiter manage to ignite a breakout rally? Will this altcoin jump to a new all-time high formation in 2024? Let’s find out more in our JUP price analysis.&nbsp; 
<h2 class="wp-block-heading" id="h-massive-fluctuations-at-1-for-jupiter">Massive Fluctuations At $1 For Jupiter</h2> 
With a massive decline of 40% in the last 30 days, the daily chart shows a triangle pattern in the Jupiter price action. Further, as the JUP token price declines, the volatility has increased significantly near the psychological mark of $1. 
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<a href="https://www.tradingview.com/x/jaC7DPGZ/">Tradingview</a> 
As the sellers test the bullish dominance of the support trendline and the $1 level, the pullback phase grows intense. However, the recent negative cycle in the triangle takes a lateral turn at $1 and teases a double-bottom reversal. 
If the bullish reversal in Jupiter aligns with a broader market recovery move, the uptrend could lead to a breakout rally. Currently, the JUP price trades at $1.004 with an intraday growth of 0.58%, bolstering a turnaround possibility. 
Technical indicators: 
MACD Indicator: The MACD and signal lines sustain a positive alignment but trend sideways in the negative territory.&nbsp; 
RSI: The daily RSI line shows a positive trend with a bullish divergence, supporting the possibility of an uptrend.&nbsp; 
<h2 class="wp-block-heading" id="h-will-jup-price-breakout-rally-hit-2">Will JUP Price Breakout Rally Hit $2?</h2> 
With a double bottom and the RSI divergence, the chances of a reversal rally leading to a new bull run are high. With this possibility, the JUP price at $1 brings an excellent entry to buy the dip at the psychological mark.&nbsp; 
If the JUP price manages to surpass the overhead trendline, the breakout rally could hit $2 while facing some resistance at $1.36.&nbsp; 
Also Check Out : <a href="https://coinpedia.org/price-analysis/will-ordi-price-bounce-to-80-as-demand-resurfaces-at-43/">Will ORDI Price Bounce To $80 As Demand Resurfaces At $43?</a>

Will A Bullish Reversal Drive JUP Price Breakout Rally To $2?

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