Jupiter surges past $2B TVL: Is this the catalyst for JUP’s next rally?
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Jupiter’s breakout from a descending triangle and surging TVL signal strong bullish momentum.Social dominance spikes while liquidation data highlight accelerating interest and sustained upward pressure.
Jupiter [JUP], Solana’s leading DEX aggregator, has reached a remarkable milestone, with its TVL surpassing $2 billion. The protocol’s total transaction volume has also exceeded $374 billion, showcasing its growing importance in decentralized finance.
Furthermore, JUP’s price climbed 10.09% to $1.24 at press time, while its 24-hour trading volume skyrocketed by 196.50% to $443.68 million. Consequently, this unprecedented momentum has drawn significant attention from traders and analysts alike.
JUP technical analysis reveals bullish momentumJupiter’s price has broken out of a descending triangle, signaling strong bullish sentiment. After touching an intraday high of $1.3229, the price settled at $1.24, maintaining its upward trajectory.
The Bollinger Bands (BB) indicate rising volatility, with JUP’s price piercing the upper band, a sign of strong buying activity.
Additionally, the Relative Strength Index (RSI) has reached 70, reflecting intense buying pressure but also cautioning that the asset might be overbought in the short term.
Moreover, the MACD indicator reinforces the bullish case, as the momentum line has crossed above the signal line. Therefore, JUP appears primed for further upside, with the next significant resistance at $1.7856.
However, short-term retracements cannot be ruled out, given the current overbought conditions.
