CandleFocus

Jupiter (JUP) Targets $1.90: Is a New All-Time High on the Horizon?

Author: Content Editor
The cryptocurrency Jupiter (JUP) has experienced a 15.65% increase in the past week, but the momentum has slowed with a 0.24% drop on the daily chart. Traders are uncertain about the future direction of the price. Several indicators suggest optimism, such as a decrease in Exchange Netflow, indicating reduced selling pressure and stronger market confidence. Open Interest has also risen, reflecting growing activity in contracts. Technically, Jupiter has broken a key resistance level and formed a cup-and-shoulders pattern, hinting at a possible 49.96% surge. However, bears still dominate the market, as long liquidations outweigh short liquidations. Traders remain cautious and uncertain about the future of Jupiter, as both bullish and bearish signals are present. The market is waiting to see if Jupiter can reach its target of $1.90 and achieve a new all-time high.

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