Jupiter (JUP) price started to rise, breaking out of an important bullish formation. However, due to current market conditions, the JUP price is not increasing at the expected pace. Jupiter Exchange proposed burning 30% of JUP tokens, worth approximately $2.88 billion. This burn proposal could strengthen Jupiter's potential to increase its price.

Jupiter's price is trending, breaking out of a major bull chart formation. This type of breakout would usually be aggressive, but due to current market conditions, the JUP price is not yet at the desired level. Still, the 30% token burn proposed by Jupiter's co-founder could help increase the value of the asset. Over the last 24 hours, JUP price has increased by 0.2%, which provides a promising basis for future gains.

This burn proposal on the Jupiter Exchange DAO will be voted on on August 4 and aims to burn 30% of the total supply of JUP tokens held by the team. This amount corresponds to approximately $2.88 billion at the current price and is the largest token burn in cryptocurrency history.

Jupiter Exchange is known as one of the largest DAOs worldwide and is the most used decentralized exchange on the Solana blockchain. According to Weremeow, co-founder of Jupiter Exchange, if the proposal is accepted, the burning process will take six months and the total supply of JUP will be reduced from 10 billion to 7 billion. This development is expected to have a positive impact on the Jupiter price.

Jupiter Price May Exceed $1.5
The JUP price chart displays an overall uptrend following a breakout from a bearish wedge formation. Starting from mid-June, higher highs and higher lows appear. Additionally, JUP price action is trending above the 50-day exponential moving average (EMA), which supports the uptrend. The last candlesticks indicate that the price may decline with a double top formation. If the price breaks below the support level at around $0.95, this could mark the beginning of a downtrend.

The main support levels for Jupiter price are:

  • Support: Approximately $0.88. This level is determined by recent price movements and the previous resistance level becoming support, and it also overlaps with the 50-day EMA.

  • Resistance: Approximately $1.11 and $1.28. These levels are points that the price has tested several times but has not been able to overcome.

The Relative Strength Index (RSI) stands at 51.96, indicating a moderate bullish momentum and not in the overbought zone. The Moving Average Convergence Divergence (MACD) line is above the signal line, indicating bullish momentum. The histogram also shows positive values, confirming that the momentum continues.

JUP trading volume increased during the breakout phase and supports the continuation of this trend. Additionally, recent trading volumes have been relatively stable, indicating continued interest.

However, if the price falls below $0.68 and fails to recover, this could indicate market weakness and cause JUP price to decline further. In this case, JUP price could decline towards the next major support level at $0.49.

PLEASE READ CAREFULLY FOR A GIFT OF 10 DOLLARS.

My friends, you know that we, the publishers, are doing everything we can for you here. We are informing you about the services and facilities offered to us by our authorities. I have never stopped supporting both the Cryptocurrency market and you as much as I could, and on the contrary, I am trying to provide more support.

THIS 10 DOLLAR GIFT CAMPAIGN IS A CAMPAIGN MADE SPECIALLY FOR ME BY BINACE. YOU CAN GET THE CONFIRMATION I SAID ABOUT THIS BY CONTACTING LIVE HELP. THIS IS A 10 DOLLAR CAMPAIGN MADE TO YOU THROUGH ME.

Now I will tell you how to receive your gift. First of all, Binance users who have registered with someone's reference and actively use futures transactions will unfortunately not be able to benefit from this promotion.

So who will benefit?

Our friends who have not activated the futures section yet, while activating your FUTURES trading section, you will earn 10 dollars when you open it by entering my reference code 88623008.

I EXPLAIN IN DETAIL.

My brothers and sisters who have become a Binance member without reference, please listen carefully;

When you do what I say, you will receive 10 USDT.

Enter the Futures Section from your application,

On the next screen, open your account by entering the code 88623008 in the REFERENCE CODE section,

My brothers and sisters who want to complete this transaction and receive the 10 USDT reward by MAY 1 can do so. After activating your account, all you have to do is open your first futures transaction.

The first 1,000 brothers to open a 200 USDT transaction by MAY 1 will receive a 10 USDT reward.

So let me give you a tactic like this: Even if you open and close 20x with a $5 transaction, you will be entitled to the reward.

However, even if you do this after May 1, your reward will not come. So get it done by May 1st. In fact, right now I say you can get it done in 5 seconds.

Very simple. Go to Futures, enter my reference code 88623008 and activate the account. Afterwards, just open a total of 200 USDT transactions and get 10 USDT reward.

WHEN WILL THE AWARD COME?

Your 10 dollar reward will arrive in the REWARDS section of your Binance application within 30 days, starting from May 1st. By activating it from there, you can use your reward of 10 dollars, or more than 300 liras, in futures transactions.

You can help your friends in need by sharing this post.

BY THE WAY, MY BROTHERS, PLEASE DON'T MISS YOUR LIKES. EVERY SHARE IS FOR YOU. SO DON'T WITHHOLD YOUR SUPPORT. IF YOU HAVE NOT FOLLOWED YET, DON'T FORGET TO FOLLOW. KIND REGARDS.