The price of Jupiter shot up 39% in the last day, while trading picked up dramatically – jumping over 850%. At the time of writing, JUP sits at $1.18, which is a big move from where it was.
The main reason for this price increase is Jupiter’s connection to the new $TRUMP token launch, which they’re calling one of the biggest crypto launches ever.
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What you'll learn 👉
Jupiter Exchange’s Role in the $TRUMP Launch
Jupiter Exchange shared details on X of its collaboration with Meteora AG to facilitate the launch of the $TRUMP token. The project reportedly utilized the same infrastructure that launched JUP, including the DLMM pool, ILM design, and Jupiter APIs. The launch was supported across various ecosystem apps, including Moonshot, ensuring seamless trading and verification processes.
The tweet further emphasized the coordinated efforts between Jupiter, Meteora AG, and the broader ecosystem in executing the launch. This successful collaboration has bolstered the perception of Jupiter’s platform capabilities, likely contributing to the heightened activity surrounding the JUP token.
Jupiter Chart Analysis: Breakout Drives Momentum
The recent price movement of JUP reflects a bullish breakout from a consolidation phase. The token dropped after forming a rising wedge but found its footing between $0.75 and $0.80. The price stayed there for a while before breaking higher.
When it broke out, strong buying pressure carried the price above the 200-day moving average of $0.9176, which showed that traders were becoming more optimistic.
The RSI is now at 72.80, which means the token might be due for a small dip in the short term. Still, the bigger picture looks good, with the next major resistance between $1.15 and $1.20.
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JUP Support and Resistance Levels to Watch
The breakout level of $0.80 is a strong support zone, reinforced by the 200-day SMA. If JUP’s price retraces, this level will be critical to maintaining bullish momentum. On the upside, resistance around $1.15–$1.20 could present challenges, as traders may lock in profits near these levels.
The surge in price and volume highlights the increasing interest in JUP. Whether the breakout sustains or retraces, the token’s performance remains one to watch in the coming days.
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