CandleFocus Jupiter Price Forecast: Will JUP Hit New ATH This Bull Run?
2025-01-28
Author: Content Editor
Jupiter (JUP) is positioned for potential gains in the cryptocurrency market, according to market analyst CryptoPilotu. Technical analysis shows that Jupiter is ready to break out of a bullish cup-and-handle pattern, with key levels at a support of $0.64 and a resistance at $1.30. If Jupiter breaks above the resistance level, the next price target is $2.10, representing a potential 146% increase. The project's connection with Solana and the recent launch of its multi-blockchain network, Jupnet, further enhance its appeal. Jupiter has also announced plans to use 50% of its fees to buy back JUP tokens and burn 3 billion JUP tokens to reduce emissions and increase token value. On-chain data, such as increased trading volume and fluctuating sentiment among derivatives traders, support the bullish momentum for Jupiter.
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