Token

Defi

Jupiter

The post <a href="https://coinpedia.org/price-analysis/jupiter-jup-losses-strength-at-1-whats-next-for-the-solana-based-token/" rel="noopener noreferrer nofollow">Jupiter (JUP) Losses Strength At $1: What’s Next For The Solana-Based Token?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
Jupiter Token JUP on Friday closed above the $1 resistance and, a territory that was lost back in 2nd week of June. Today, JUP experienced volume turbulence and lost the $1 region to drop to the current price of $0.96 with bearish momentum.&nbsp;
JUP, the native asset of Jupiter, a Decentralized Exchange on the Solana Network had surged nearly 70% from 5th July, the quarterly low.&nbsp;
The bulls we released after $0.8 was breached, giving the energy to surpass the long-term $1 zone, which was tested today.
<h2 class="wp-block-heading" id="h-jup-technicals-are-mixed">JUP Technicals Are Mixed</h2>
The Defi token <a href="https://markets.coinpedia.org/jupiterr/" rel="noopener noreferrer nofollow">JUP </a>in the last 20 days is under high volatility and increased trading volume. These 2 factors directly impact the price movement of an asset.&nbsp;
While we watch the JUP/USDT chart, the applied Stochastic RSI values at 0, indicate the asset is oversold and a reversal is possible.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXf83VlV3a5j2ItMafl3BiYdVCF8h4qXuS5VxXZxuYgHsnlXLWeCAoYjcPnZ7VjYtDakAQKOXXLlU1wC3yaATCXhokkbPhiKbp4pUry3-YWcZxjX9WSXJNsJJP8dAdJNOVyFZGs2tMv1o7Z8gf4RElWSvxXf?key=8TRcgoJiDLp32Otj6TejmA" alt="">
</figure>
The JUP token volume has fallen, as a result of increased volatility after the assert traded for 10 days above the blogger bands.&nbsp;
On the other hand, the price is above all the moving averages but has no strong support zone.&nbsp;
<h2 class="wp-block-heading" id="h-jup-faces-short-terms-liquidation">JUP Faces Short terms liquidation</h2>
A report reveals, that JUP is facing short-term liquidation over long-term ones. The upward trajectory of the Jupiter token triggered selling pressure to find no support from previous moves.&nbsp;
But looking at the technicals, Jupiter’s price is now on the edge of entering a consolidation phase as new investors would wait for the price to rebound to $1 zone and sellers seek the same target.&nbsp;
$0.86 still stands as a key support level, a breakout below this will entertain more red candles.&nbsp;
Conversely, increased Futures participants and Solan network activity can impact a breach again into $1 zome with resistance standing at $1.2&nbsp; and $1.4&nbsp;

Jupiter (JUP) Losses Strength At $1: What’s Next For The Solana-Based Token?

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Ďalšie články zverejnené 23. 7. 2024

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