The Jupiter (JUP) token, which powers a decentralized exchange aggregator on the Solana blockchain, has formed a death cross on its daily chart, indicating a potential correction or consolidation period. Despite recent positive news, such as a token burn and buyback announcement and a large user airdrop, the technical indicators suggest a bearish trend may be on the horizon. The Relative Strength Index (RSI) is also approaching overbought territory, indicating potential selling pressure. If a correction occurs, the token's value could drop to as low as $0.7.



Other News from Today