Price Analysis View Non-AMP

Jupiter (JUP) Price Displays Bearish Action! Hints A 10% Drop This Week?

Published by
Elena R

Despite the crypto industry displaying a bullish price action within the past day and the JUP price adding approximately 5% during this time, it continues to trade under a strong bearish influence in the long-term perspective, raising concerns about its future prospects.

With a constant rise in price volatility within the crypto market, will Jupiter price plunge below the $1 mark this month or prepare to test a new all-time high (ATH) by surpassing the $2 mark this year?

JUP Price On The Verge Of A Major Breakdown?

Following the cross-border market correction, the Jupiter token recorded a significant correction in its valuation, resulting in this altcoin plunging toward its crucial support level of $1 during the previous week.

Following this, the bulls recorded a bounce back in the chart, but the JUP price faced rejection at its resistance trendline of the symmetric triangle pattern. Since then, the price has been trading under a bearish sentiment.

TradingView: JUP/USDT

Despite recording a correction of 7.91% within the past seven days, the JUP price has added 6.71% over the past 30 days. Moreover, the Jupiter token has formed a symmetric triangle pattern in the 4H time frame by recording constant lower highs in its price chart, indicating increased bearish influence.

Further, the JUP coin price is on the path of testing its support trendline, the outcome of which is unpredictable. The Cross EMA 50/200-day acts as a resistance to the price chart, indicating a strong bearish price sentiment in the crypto space.

On the other hand, the MACD displays a constant flatline in the chart, highlighting a weak price action for the Jupiter price in the crypto industry. Moreover, the averages show a high possibility of a bearish convergence, suggesting uncertainty in future price action.

Will Jupiter Price Go Up?

If the bulls break out of the symmetric triangle pattern, the JUP price will test its resistance level of $1.1390 this week. Maintaining the price at that level will set the stage for the Jupiter token to retest its yearly high of $1.2150 this month.

Conversely, if a bearish trend reversal occurs, the Jupiter price will plunge toward its support trendline by breaking down its support level of $1.0560.

Also Check Out : Bitcoin Slumps Hard, While the Rally Remains at the Foothill of a Major Explosion Aiming for $78,000

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

Recent Posts

Crypto Pro Who 500x’d on PEPE Says This Coin Is the Next Big Thing—And It’s Launching Now!

A seasoned crypto expert, renowned for turning a remarkable profit on PEPE, now points to…

April 20, 2025

Dogecoin (DOGE) and 2 More Altcoins You Can’t Afford to Miss in 2025

Dogecoin (DOGE) showed strong market growth by reaching $0.1569 while increase and 3.3% within 24…

April 20, 2025

SHIB Investors Turning Heads—Influencer Pepe to Lead New Meme Coin Revolution

Shiba Inu (SHIB) investors are stirring—after a wild ride, SHIB’s holding steady at $0.00001222 with…

April 20, 2025

The 5 Most Talked-About Cryptos of Q1 2025, Are You Holding Them?

Rexas Finance (RXS) has emerged as the leading topic in crypto circles in Q1 2025,…

April 20, 2025

Is Pi Network Breakout Imminent? New Roadmap Sparks 4% Surge Amidst Mixed Reactions

Pi Network price has surged over 4% in the past 24 hours following the launch…

April 20, 2025

Charles Schwab to Launch Spot Crypto Trading by 2026, Boosting Bitcoin and Ethereum Access

Charles Schwab’s new CEO, Rick Wurster, announced that the company is gaining significant momentum in…

April 20, 2025