ApeCoin (APE) has emerged as the top gaining cryptocurrency today, surging by 70.37%, while Jupiter (JUP) follows closely with a 6.84% price increase over the past 24 hours.
World of Charts, a famous analyst revealed on X (formerly Twitter) that both tokens have shown bullish momentum, hinting at further gains.
Moreover, APE’s trading volume has soared by 3005.14%, indicating a surge in investor interest and activity, while JUP is also catching attention with its confirmed breakout. Let’s take a closer look at the developments for both tokens.
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What you'll learn 👉
ApeCoin Price Breaks Out of Downtrend
Months of a protracted downturn have ended with a notable trend reversal for ApeCoin (APE). From February 2024, APE’s price followed a declining channel with lower highs and lower lows.
However, the price of APE broke above the top trend line of the channel around the middle of August, indicating a positive reversal. A robust rally ensued after the breakthrough, gaining more momentum at the start of September. This uptrend saw the token overcome previous resistance levels, turning them into support.
As of now, APE has achieved a sharp upward movement, with the chart showing a gain of around 70%. This rally aligns with the tweet from World Of Charts, which mentioned APE “flying towards targets” with “70% profit so far.” The analyst emphasized that APE’s upward trajectory may not have peaked yet, suggesting potential for continued gains if the momentum holds.
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Show more +Jupiter (JUP) Eyes New Heights After Symmetrical Triangle Breakout
Jupiter (JUP) has also captured attention with a breakout from a symmetrical triangle pattern. This formation, characterized by converging trend lines, typically signals a phase of consolidation before a decisive move.
JUP’s price had been contained within these trend lines since mid-February, but it has now broken above the upper resistance line, confirming a bullish trend.
World Of Charts mentioned that the breakout could drive JUP to new all-time highs. The JUP chart analysis supports this sentiment, projecting a potential rally of up to 104% based on the height of the triangle pattern.
Currently, JUP’s price has seen a 6.84% increase, making it the second top gainer in the market today. Should the bullish trend continue, the recent resistance could become a strong support level, encouraging further upward movement.
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Future Outlook for APE and JUP
ApeCoin and Jupiter are exhibiting strong bullish signals. APE’s price reversal from a prolonged downtrend, coupled with its substantial volume increase, indicates that the token could see further upside. Investors will need to monitor key resistance levels to gauge if APE can sustain its momentum or face pullbacks at higher price points.
Similarly, JUP’s price breakout from a symmetrical triangle suggests a potential for continued gains. If the token holds above its previous resistance trend line, it could signal further strength and a move toward higher targets. However, as always, traders should be cautious and watch for any retests of support levels to confirm the validity of these breakouts.
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