Solana bull benefited that altcoin: JUP exceeded 2 billion TVL.

Jupiter (JUP), one of the most active decentralized exchanges in the Solana ecosystem, has grown along with the memecoin craze.

As the crypto market continues to be active, investor interest has shifted to decentralized exchanges. Traders are using decentralized exchanges to find potential memecoins. This activity has been a lifeline for #Jupiter , one of the most popular decentralized exchanges on the #Solana network.

Hosting an average transaction volume of $400 million, Jupiter has reached a total locked asset (TVL) of over $2 billion.

AMBCrypto stated that the JUP price has potential to rise. In the prepared analysis, the price levels that need to be broken for an uptrend were evaluated.

Jupiter (JUP) analysis

Jupiter (JUP), which is in the Solana ecosystem, has increased by nearly 10 percent in recent days with increasing transaction frequency and investor interest.

According to AMBCrypto’s analysis, JUP gained upward momentum by breaking the descending triangle formation and exceeding $2 billion TVL. Another factor shaping bullish expectations was social dominance. While Jupiter’s popularity increased, liquidation data pointed to investor interest.

JUP price touched $1.3233 the other day, but failed to hold on. The popular altcoin fell to $1.20 during the day. Bollinger Bans (BB) on the JUP chart signaled increased price volatility.

JUP may retest the $1.27 resistance with strong buying activity. If this resistance level is broken and maintained, the price is expected to move to the $1.78 resistance.

The analysis included the following;

“The Relative Strength Index (RSI) reached 70, reflecting intense buying pressure, while also warning that the asset poses excessive risk in the short term.”

AMBCrypto, who predicted that JUP would reach the $1.78 resistance, stated that short-term pullbacks would be considered normal.

On the other hand, if the $JUP price cannot overcome the $1.27 resistance, it may pull back to $1.