Jupiter Price Prediction: JUP Soars 8%, But Experts Say This AI Meme Coin Could Be the Best Crypto...

Jupiter's price rose 8% in the last 24 hours to trade at US$ 0.786 at 00:42 EST, with trading volume that soared 86% to US$ 131 million.

This comes as the decentralized exchange (DEX) launches its Jupiter Swap V3, leveraging the new Metropolis liquidity backend to enable instant routing, dynamic swiping, smart token filtering, and ecosystem token listing.

Metropolis

We have completely redesigned our backend systems to solve key user issues including discovering new tokens, difficulty figuring out the correct secure swipe, finding the right token, important notices, and more.

This allows Jupiter to keep up with the explosive number… pic.twitter.com/TNOuV3dJBc

— Jupiter 🪐 (@JupiterExchange) June 24, 2024

Jupiter Price Preparing for a Breakout Above Consolidation Channel

Jupiter price has been in a downtrend since the beginning of June, which was mainly fueled by the death cross of US$ 1.10, according to data from GeckoTerminal.

However, Jupiter price appears to have found support around US$ 0.7247 as the token entered a consolidation channel over the last week, trading in the range of US$ 0.72 and US$ 0.80.

JUP appears to be preparing for a rally as the Jupiter token trades within the upper boundary of the consolidation channel.

JUP price trades well above the 50-day and 200-day simple moving averages (SMAs), with the 50-day SMA acting as a critical support level around US$ 0.7493.

Furthermore, the Relative Strength Index (RSI) is rising towards the overbought region of 70, currently at 68, which shows that the token is under intense buying pressure.

On the 1-hour chart, the Moving Average Convergence Divergence (MACD) supports the upcoming bullish stance.