Cryptocurrencies Jupiter (JUP) and Mantle (MNT) have captured investors’ attention with impressive price surges over the past day. According to CoinMarketCap data, JUP skyrocketed 22.58% to $1.55, while MNT climbed 12.97% to $1.31 in the last 24 hours. But what exactly is fueling these rallies?
What you'll learn 👉
Jupiter Analysis
Diving into technical analysis from top crypto analysts sheds light on the underlying forces at play. For JUP, @Bluntz_Capital’s 4-hour chart highlights a significant uptrend at point A, followed by high volatility around point B where prices peaked before a steep sell-off. Prices then entered a consolidation phase at point C, fluctuating within a range.
Notably, @Bluntz_Capital identifies resistance around the $1.50 to $1.60 range where JUP has repeatedly hit ceilings. With JUP currently retesting those levels, a decisive breakout could catalyze the next leg higher if momentum persists.
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Show more +Mantle Technicals
Turning to MNT, @FortuneNodeOfficial examined daily charts revealing bullish technicals. The moving average convergence divergence (MACD) indicator shows the MACD line above its signal line and baseline, signaling upward momentum. Additionally, MNT’s price trades above key moving averages, confirming an overall uptrend.
Most notably, the analyst highlights MNT’s 133.17% price surge from around $0.80 to $1.86 within the green rectangle. While off those highs, MNT’s current price near $1.31 suggests the rally remains intact for now.
The technical formations witnessed across both JUP and MNT align with their price action lately. However, cryptocurrencies are highly volatile, and investors should exercise thorough due diligence. Still, the charting perspectives offer a granular, data-driven view into the fundamental and sentiment drivers potentially powering these surges.
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