To analyze the possibility of a breakout of $JUP (Jupiter) after a bullish phase from 0.68, we will look at some technical and fundamental factors that can support this assertion.
1. Technical Analysis
a. Price Trend
The price of $JUP has increased from 0.68, indicating strong interest from the market. However, after a bullish phase, the market will usually have 2 scenarios: continuation of the upward momentum (breakout) or correction (pullback).
âą Resistance: To determine the possibility of a breakout, it is necessary to check which resistance level $JUP is facing. The nearest strong resistance level will likely be a point where the price will have difficulty breaking through, or if it does, the possibility of a breakout is very high.
âą Price pattern: If $JUP is forming accumulation patterns such as an ascending triangle or a rising flag, this is a pretty good signal for a breakout. In particular, if the trading volume increases at points near the top of the pattern, this is a very positive sign.
b. Trading volume (Volume)
Trading volume is a very important factor in determining whether the price increase is strong enough to lead to a breakout. If the volume increases during the price increase and continues to increase near the resistance level, there is a high possibility that $JUP will break through this resistance level. Conversely, if the volume is decreasing, this may indicate that the market is weakening and a correction may occur.
c. Technical Indicators:
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