Jupiter (JUP) Price Rises 12% Thanks to Strong Support Zone

Jupiter’s  price jumped 12% after finding solid support at a key ascending trendline. This rebound has sparked hope for a potential breakout after months of sideways movement. While the market remains uncertain, strong technical signals suggest the end of the prolonged consolidation phase. Traders are now watching closely to see if JUP can break resistance levels and continue climbing.

Strong Support Zone Drives the Recovery

Jupiter found support at an important ascending trendline from September 2024. The price has been consolidating around the 0.618 Fibonacci retracement level, which has strengthened the support. The chart shows signs of a potential five-wave impulsive pattern.

What’s Next for Jupiter Price?

The Relative Strength Index (RSI) shows a recovery. It has risen from oversold territory, indicating growing buying pressure. This shift in momentum could signal further gains for JUP. However, confirmation is needed before calling this trend a sure breakout.

The biggest hurdle is breaking through resistance at $1.1427, a key 0.5 Fibonacci level. If JUP surpasses this, the price may surge toward $1.3117, the next major target. On the other hand, failing to hold above $0.7331 could lead to a decline toward $0.4266, near the 1.0 Fibonacci extension level.

In conclusion, Jupiter’s 12% rise shows the strength of the support zone. As buying momentum builds, resistance levels become crucial. Traders should monitor these levels to see if the price can continue its upward movement.