Bull Run Starting In JUP Price Trend Eyes 60% Upside
The post Bull Run Starting In JUP Price Trend Eyes 60% Upside appeared first on Coinpedia Fintech News
With the altcoins taking a bullish turn, the Jupiter price trend improves with a boost in trend momentum. The uptrend challenges a crucial resistance and signals a potential surge in JUP token price this week.
As the underlying demand continues to grow, the sideline traders are on the upside entry lookout. Will the bull run in Jupiter reach the psychological mark of $2? Find out more about our JUP price analysis.
Jupiter Price Performance
With a $1.55 Billion market cap, Jupiter ranks at the #62 position in the list of top 100 coins. However, the 18.79% drop in the last 30 days paints the JUP price trend in a pullback phase. Nevertheless, the shift in investors’ sentiments is gradually kickstarting an uptrend in Jupiter.
JUP price witnesses a bullish reversal from the $0.090 mark after breaking under the $1 psychological mark. The turnaround breaks above the triangle pattern in the 4H chart and heads above the $1.15 mark.
The recovery rally accounts for a price jump of 15% in the last 7 days. Currently, the JUP price trades at $1.14 with an intraday move of 2.05%. Considering the uptrend sustains momentum, the altcoin could cross $1.50 this month.
Technical indicators:
MACD: The bullish trend in the MACD and signal lines present a positive signal from the momentum indicator.
RSI: The daily RSI line shows a positive trend crossing into the overbought zone, bolstering the possibility of an uptrend.
Will JUP Price Breakout Rally Hit $2?
With the triangle breakout rally in the 4H chart, the JUP price could regain momentum. Further, as per the Fibonacci retracement in the 4H chart, the uptrend has surpassed the 23.60% level. This increases the possibility of an upside move to the 50% level at $1.36.
If the Jupiter price trend sustains momentum, the breakout rally could hit $1.80, teasing a jump to $2.
