Jupiter has been turning heads lately, with more people keeping an eye on where its price is heading and what’s coming next. Prominent analyst AMCrypto shared on X that the price of JUP is currently trading in a neutral zone.
According to the analysis, a decisive move is likely if the price achieves a 3D close above $1.07 or dips toward $0.70. Adding to the anticipation, an airdrop scheduled for this month has created speculation around a potential bullish breakout.
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What you'll learn 👉
Jupiter Price Movements and Key Levels
JUP has been navigating a consistent downward trendline, which has acted as a strong resistance barrier. This trendline aligns with the $1.07 level, creating a critical confluence zone for traders.
A breakout above this zone would signify a potential trend reversal. Conversely, the chart shows a well-defined support zone around $0.70, where demand could increase if JUP’s price moves downward.
Currently, the price consolidates below $1.07 while remaining above $0.70. This range highlights the lack of direction, as traders wait for a decisive move to confirm the next trend.
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Airdrop Event and Its Effect on Sentiment
The upcoming JUP airdrop has added excitement to the market. Historically, airdrops tend to drive speculative buying, as traders accumulate tokens to benefit from such events.
This could push Jupiter’s price toward the $1.07 resistance level. However, without a confirmed breakout, the price may continue to trade sideways or revisit the support zone for liquidity.
AMCrypto’s observation that a close above $1.07 is more likely due to the airdrop aligns with the general market sentiment. Still, traders remain cautious, as a failure to break resistance could signal further consolidation or a dip.
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Jupiter Price Projection to Watch
A breakout above $1.07 would indicate bullish momentum, likely attracting momentum traders and driving further price gains. On the other hand, a failure to clear resistance may lead the price back toward $0.70. This support zone could provide an opportunity for buyers to step in, potentially reversing the trend.
With the combination of a clear technical setup and the airdrop announcement, Jupiter’s price movement this month is one to watch. Traders are advised to monitor the key levels of $1.07 and $0.70 closely for signs of the next major move.
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