$JUP Long Liquidation: $59.5K Cleared at $1.317 – A Sharp Reversal

Jupiter (JUP) experienced a sudden drop to $1.317, resulting in the liquidation of a $59.5K long position. This rapid price movement highlights the market’s volatility, catching long traders off guard as bearish momentum took control.

Key Highlights:

Reversal Pressure: JUP struggled to maintain its upward momentum around $1.350, encountering resistance that triggered a swift sell-off.

Support and Resistance: Immediate support is now found at $1.300, with resistance at $1.350.

Market Sentiment: The liquidation points to a shift in sentiment, with bears taking charge and further downside potential in play.

Traders should watch for signs of stabilization at the $1.300 support level, or the possibility of further downside if the selling pressure persists.

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