The Altcoin Jupiter (JUP) Eyes Wedge Breakout
With a declining trend in the daily chart, the JUP price action reveals a falling wedge pattern. In the recent crash, the altcoin dropped to the $0.73 mark of the 78.60% Fibonacci level.
However, the drop to $0.73 teases a bull cycle with a double bottom and a morning star at the support.
Currently, the altcoin trades at $0.76 with an intraday gain of 3.83%, forming a bullish engulfing candle. As the broader market recovery gains momentum, the JUP price teases a breakout rally to reclaim the $1 psychological mark.
As per the Fibonacci levels, the breakout rally could reach the $1.25 mark.
