The price of Jupiter (JUP) has fallen by 10% in the last 24 hours, cooling off after a strong rally fueled by major developments. In recent weeks, JUP has made headlines with key acquisitions, including Moonshot and SonarWatch, and has surpassed Raydium in Total Value Locked (TVL).
Despite the ongoing correction, technical indicators like EMA lines remain bullish, while smart money continues accumulating JUP at near-record levels. Whether JUP finds support or extends its decline below $1 will depend on how the market reacts to its latest price movements.
Jupiter’s RSI Turns Neutral After Overbought Signal
Jupiter’s Relative Strength Index (RSI) hit 75.9 four days ago following a price surge triggered by announcements of its Moonshot and SonarWatch acquisitions.
However, RSI has now dropped to 51.44 as the price declined by about 10% in the last 24 hours, indicating that the recent rally has lost momentum and selling pressure is increasing.
💡 What does the RSI drop mean?
RSI above 70 – Indicates an overbought market, likely leading to a correction.RSI around 50 – Neutral territory, neither overbought nor oversold.RSI below 30 – Signals oversold conditions, which can attract buyers.
If RSI continues to decline, further price drops may follow. However, if buyers step in and RSI stabilizes, JUP could find support and attempt a recovery.
Smart Money Holds 48.5 Million JUP
The number of smart wallets holding JUP has fluctuated significantly in recent days. On January 18, there were only 22 smart wallets holding JUP, which surged to 63 on January 23 before dropping to 44.
Meanwhile, the total JUP supply held by these wallets has continued to increase:
🔹 38.7 million JUP (last week)
🔹 46.2 million JUP (recently)
🔹 Currently 48.5 million JUP, close to the all-time high of 49.5 million
📊 What does this indicate?
Even though some large holders have exited, the overall accumulation trend remains strong, suggesting that institutional investors and large traders still believe in JUP's long-term potential.
If this high accumulation trend continues, it could stabilize the price and even trigger a potential recovery. However, if accumulation slows down or reverses, it may lead to increased selling pressure and higher volatility.
JUP Price Prediction: Will It Drop Below $1 Soon?
Despite the current correction, technical indicators remain bullish. Short-term Exponential Moving Averages (EMA) are still positioned above long-term EMAs, indicating potential for a rebound.
🔻 Key Support Levels:
$0.98 – If JUP fails to hold this level, a deeper decline could follow.$0.83 – $0.76 – Next potential bottom zones.
📈 Key Resistance Levels:
$1.22 & $1.27 – Strong resistance zones that previously blocked further upside.$1.40 – A breakout above this level could confirm a bullish reversal and push JUP back toward its recent highs.
Conclusion: What’s Next for Jupiter?
🔹 10% correction after a recent rally raises questions about whether the decline will continue.
🔹 RSI has dropped from overbought levels to a neutral 51.44, suggesting a balanced market.
🔹 Smart money continues accumulating JUP, although the number of wallets has slightly decreased.
🔹 Key support at $0.98 will be crucial – a break below could lead to further losses.
🔹 If bulls regain control, JUP could attempt a move towards $1.22 – $1.40.
Overall, JUP remains in a long-term bullish trend, but short-term movements depend on how the market reacts around the critical $1 support level. Investors should closely watch this zone, as it could determine the next major price direction. 🚀
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