Jupiter Price Surges! Is JUP Token Worth Buying?

The post Jupiter Price Surges! Is JUP Token Worth Buying? appeared first on Coinpedia Fintech News

The crypto space continues to trade under a strong bullish influence, indicating an ongoing massive price action in the market. Further, the Jupiter price has added approximately 12% within the past 24 hours, making it one of the gainers in the industry for the past day.

The Jupiter (JUP) price traded between $0.6381 and $0.6853 for a short period, following which the bulls lost momentum and recorded a correction of 11.34%. After this, the price traded in a closed range between $0.5866 and $0.6381 for the next two days.

TradingView: JUP/USDT

As the market volatility grew, the bulls recorded a breakdown in the chart, after which the price traded between $0.5216 and $0.5866 for the next six days. The bulls struggled to hold the price above the support level, resulting in another correction of approximately 10% in valuation.

The Jupiter price then traded between $0.4708 and $0.5216 for a brief period during which the price faced repeated rejection at its resistance level. After multiple attempts, the bulls recently broke out of the level and have been trading sideways since then.

Also Read: Solana And Polygon Price Show Weakness Despite Bullish Trend! What’s Next For SOL & MATIC Price?

The Moving Average Convergence Divergence (MACD) displays a constant green histogram, indicating a bullish influence in the market. Moreover, the averages show a constant rise, suggesting the price will continue gaining value in the coming time.

Will Jupiter Price Increase?

If the bulls hold the price above the support level of $0.5216, the JUP price will regain momentum and test its resistance level of $0.5866. Maintaining the price at that level will set the stage for Jupiter to attempt to test its upper limit of $0.6381 in the upcoming weeks.

Conversely, if the bears overpowered the bulls, the Jupiter price would lose momentum and fall to test its support level of $0.5216. Further, if the bears continue to dominate the market, it will plunge and prepare to test its crucial support level of $0.4708 this month.