JUP Price Prediction: Another 12% Rise Expected?
Currently trading at $1.77, Jupiter’s price is gradually approaching the $1.80 support level. This would take the price up to $2.00, a new all-time high and a 12% upside for JUP investors.
Further corroborating this outcome is the fact that the Moving Average Convergence Divergence (MACD) indicator, a trend-following momentum indicator used to identify bullish and bearish trends, is also showing bullish sentiment. The indicator recently saw a bullish divergence, suggesting that the momentum could continue.
However, there are as many or even more liquidations in long contracts than in short contracts. This suggests that volatility is also taking its toll on bullish traders, which could prompt them to exit for now.
As a result, this could cause the JUP price to take a hit and drop to $1.40, which would invalidate the bullish outlook.
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