#JupSOL Jupiter (JUP) analysis
Jupiter (JUP), which is located in the Solana ecosystem, has increased by nearly 10 percent in recent days due to increased transaction frequency and investor interest.
According to AMBCrypto's analysis, JUP, which managed to break the descending triangle formation and exceeded $ 2 billion TVL, gained upward momentum. Another factor shaping the bullish expectations was social dominance. While Jupiter's popularity increased, liquidation data pointed to investor interest.
Although the JUP price touched $ 1.3233 the other day, it could not hold on. The popular altcoin fell to $ 1.20 during the day. The Bollinger Bans (BB) on the JUP chart signaled that price volatility was increasing.
JUP may retest the $ 1.27 resistance with strong buying activity. If the resistance level in question is broken and maintained above, the price is expected to move to the $1.78 resistance.
The analysis included the following;
“While the Relative Strength Index (RSI) reaches 70, reflecting intense buying pressure, it also warns that the asset has excessive risk in the short term.”
AMBCrypto, predicting that JUP will reach the $1.78 resistance, stated that short-term pullbacks will be considered normal.
On the other hand, if the JUP price cannot overcome the $1.27 resistance, it may pull back to $1.
