Is Jupiter (JUP) Price Ready to Test Major Resistance and Continue Higher? Analyst Weighs In
The price of JUP has shown promising signs of a bullish recovery after rebounding from a key support level. Prominent trader BitGuru shared on X that JUP has bounced back strongly from the $0.9285 support, signaling a potential upward momentum.
Analysts are now keeping a close eye on the $1.01 resistance level to determine whether JUP’s price will maintain its bullish trend. A break above this resistance could see the price move toward $1.0666, reinforcing the continuation of the current uptrend.
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Jupiter Price Action Analysis
JUP’s price began its recent upward movement at around $0.9783, advancing toward the $0.9985 mark. This marked the first bullish peak in the cycle. However, the cryptocurrency then experienced a slight pullback, which brought the price down to $0.9792.
This drop represents a brief bearish correction, where sellers temporarily took control, though the decline was not significant. The JUP’s price quickly found support at $0.9285, a key level identified by BitGuru, and reversed direction, showing signs of bullish recovery.
Market Sentiment and Outlook
The overall market sentiment for JUP remains bullish after its recovery from the support zone. While the cryptocurrency has faced some pullbacks along the way, the rebound from $0.9285 has drawn attention to its potential for further upward movement.
Analysts believe that if JUP can surpass the $1.01 resistance, a more extended rally toward $1.0666 could be in the cards. However, if the price fails to break this resistance, the market could see a period of consolidation or another pullback before the next move.
With the current momentum, JUP’s price action suggests optimism among traders. The next few trading sessions could reveal whether JUP can establish a clear path above the $1.01 resistance, ultimately confirming the continuation of the bullish trend.
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