Jupiter Price Analysis: JUP Gearing Up for a Massive Rally?


  • JUP down approximately -0.13% within the last 24 hours.
  • Jupiter currently trades near $1.01
  • JUP price flashes signs of bearishness on 7-days price chart.
  • JUP/USD pair trading above EMA(20).

27 April 2024 : In this article we will walk you through Jupiter price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for Jupiter, Is JUP a good investment? Jupiter support & resistance levels etc. But before diving deep into the JUP technical analysis, let us talk about the current market conditions.

Market Analysis

Over the last twenty-four hours, there was a down fall of -1.84 percent, bringing the entire cryptocurrency market to $2,349,216,509,308. The total trading volume stands at $56,548,829,012. Bitcoin shares 52.97 percent of the entrie market while Ethereum has a dominance of 16.33%.
which resulted in Bitcoin's price dropping down to $63,202.83 level after a decline of -1.09%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 2.87 percent reaching to $3,232.78 during the previous 24 hours.
While publishing this blog, BNB traded at $595.01, following a price change of -1.13%within the same time frame. SOL the native coin of Solana is down by -1.29 and currently trading at $141.02. Additionally, Cocos-BCX reached $0.60 after seeing a decline of -0.77% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.

Jupiter Support and Resistance

Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of Jupiter (JUP)

JUP Resistance Levels JUP Support Levels
Resistance Level 1 $0.008 Support Level 1 $0.006
Resistance Level 2 $0.009 Support Level 2 $0.005
Resistance Level 3 $0.009 Support Level 3 $0.004

Jupiter Performance

The price of Jupiter (JUP) is at $1.01, down -0.13% in the past 24-hours and has a price change of -14.32% over the week. One day trading volume for BTC is 126,989,890.00 USD while total marketcap reached $1,363,572,626.00 USD. There are almost 1,350,000,000 are in circulation out of 10000000000.

Jupiter Price Analysis

JUP price analysis for 27 April 2024 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the Jupiter.

Moving Averages Price Indicator
Simple Moving Average (10) 0.007 Buy
Exponential Moving Average (10) 0.007 Buy
Simple Moving Average (20) 0.007 Buy
Exponential Moving Average (20) 0.007 Buy
Simple Moving Average (50) 0.008 Buy
Exponential Moving Average (50) 0.008 Buy

While JUP’s Williams %R indicator is at -66.4 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The JUP/USD Moving Average Convergence and Divergence (MACD) indicator is indicating a short-term sell signal as the MACD line is moving below Signal Line Which means bears are dominating in the market. The relative Strength Index (RSI) indicates that the JUP coin is in oversold phase, as RSI is at 19.

Conclusions

The value of JUP is continuously dumping but it is expected that support levels at $0.006 and $0.005 will act as crucial points and bounce the trend line in the bullish zone