Jupiter (JUP) Price Could Resume Spike to $1 Once This Support Holds

Jupiter (JUP) price could be about to see some volatility as it reaches a level that has been a source of volatility in the past. This was also noted by crypto analyst Ali (@ali_charts), who identified a crucial support level that could determine JUP’s next major price movement.

Jupiter price was at $0.71342 at the time of the post, showing a modest decline of 1.02% in the latest trading session. The cryptocurrency has been trending downward from its recent peak of over $1.30, catching the attention of market participants watching for potential reversal points.

Critical Support Level for JUP Price

According to Ali’s technical analysis, JUP is approaching a decisive moment at the $0.69 support level. This price point has historically served as a strong foundation for price rebounds, making it particularly significant for traders looking to enter positions.

As Ali notes, “Jupiter is approaching a critical support level at $0.69, which could provide the foundation for a rebound toward $1!”

The path upward isn’t without its challenges. The psychological $1.00 mark stands as the first major hurdle for any potential recovery. Beyond that, traders should watch the $1.30 to $1.40 range, where previous rallies have faced significant selling pressure.

Read Also: Crypto Veteran Warns: XRP Price Is Due to a Pullback After 11% Pump

Jupiter Potential Price Scenarios

The market appears to be at a crossroads. If the $0.69 support level manages to hold firm, Ali’s predicted bounce toward $1.00 could materialize, offering significant opportunities for traders.

However, there’s also a more cautious scenario to consider. Should the price break below the critical $0.69 support, we could see further downside movement, potentially testing lower support levels between $0.62 and $0.55.

The current market sentiment and momentum suggest sellers have the upper hand, but as Ali emphasizes, the $0.69 level will be crucial in determining whether bulls can regain control and push toward higher targets.

Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.

We recommend eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more

Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.