- JUP’s price action shows a classic ‘trough and peak’ pattern amid the Bitcoin bull run.
- Jupiter-WEN alliance spurs market interest, JUP hits $1.034 ATH.
- The JUP/USD shows potential bullish signals on MACD and stochastic RSI.
In a notable uptrend, the Jupiter (JUP) market has experienced significant activity over the past week, with prices oscillating between $1.034 and $0.7163. This movement coincides with a Bitcoin bull run, marking new all-time highs and hence prompting a surge in JUP demand. The cryptocurrency opened at $0.9597, only to see a sell-off pushing it to a daily low of $0.8753. Despite this, a strong rebound was observed, propelling JUP to a high of $1.034 within the same day.
This price action illustrates a classic ‘trough and peak’ pattern, indicating that JUP found solid support at its lowest point, encouraging a wave of buying before resistance at the peak tempered its ascent. This dynamic between buyers and sellers points to continued volatility in the JUP market.
JUP/USD 24-hour price chart (source: Coinstats)
At press time, however, JUP’s price stands at $0.9179, reflect…
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