- Jupiter’s price traded in the green for 14 days in the last 30 days.
- The JUP price was down by 61% from its all-time high price of $0.7423.
The Jupiter (JUP) token witnessed an advance of 1.7% in the last 24 hours from the press time. The JUP price further traded at $0.7256, and it witnessed a decline of 54% in the last 1 year.
At press time, Jupiter was the 59th largest cryptocurrency in the global crypto market. It had a market cap of $976.284M, leading to a market cap dominance of 0.05%.
The traded volume value for the JUP crypto declined by 16% in the last 24 hours from the press time. That resulted in a traded value of $53.767M, which was 5.56% of the market cap.
The Jupiter token’s volume/market cap ratio showed medium liquidity in the token price. Jupiter’s coin price was up by only 59% from its all-time low price of $0.4557. Additionally, the all-time low in the price was formed six months ago, and the price declined closer to the all-time low.
The Jupiter price belonged to the A tier and had a security score of 82.28 at press time. As per Certik Skynet, the token’s global security ranking was also #518.
Will bullish liquidation drive the Jupiter coin price?
The Jupiter token witnessed a decline of 21% in its trading volume, resulting in a traded value of $54.62M. This showed a decline in the trading activity of the token’s derivatives.
The derivatives liquidation chart of the Jupiter token showed a decline in the liquidation activity. It led to a decrease in traders’ engagement.
Moreover, shorts worth $37.14K were liquidated in the token in the last 24 hours. Against this, the longs worth $20.88K were liquidated, which showed buyers’ dominance over Jupiter’s price.
What Does JUP Crypto Price Technicals Indicate?
The daily chart of the JUP crypto reveals a bullish shift, as the price successfully broke out above a descending triangle pattern. Before this breakout, the token had been in a prolonged downtrend, marked by a series of lower-low swings on the chart.
The consistent decline in the JUP price led to a falling wedge pattern for more than three months. Although the token initially broke out above this pattern, it struggled to sustain the upward momentum and fell below the breakout level.
A weakening in momentum accompanied this failure to hold above key levels. The formation of several bearish candlesticks on the chart evidenced it. This price action highlighted the prevailing weakness in the token’s market position.
However, suppose the JUP breaks above the critical level of $0.950, supported by a strong surge in trading volume. It could signal a potential reversal. This might pave the way for higher price levels shortly.
JUP Coin Price Continues To Follow Bearish Technicals
The 50-day and the 200-day EMAs traded in a death cross, and the price traded below the following EMAs. This exhibited a strong downtrend in the price. The JUP coin price was recently rejected from the 200-day EMA and continued the selling pressure.
JUP/USD Chart by TradingView
The MACD also gave a strong sell signal as the MACD and the signal line traded in the bearish crossover. The following metrics also sustained the negative trajectory, confirming sellers’ dominance.
Moreover, the RSI lost below the 14-day SMA and traded at 41.3, declining below the 50 level. The JUP price might take support at $0.450 and $0.640, followed by the resistances of $1.270 and $1.80.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
