JUP/USDT: A Detailed Study of the Cryptocurrency in 1 Hour Charts🚀🚀🚀🚀🚀🚀
Correction and Possible Upside: After the uptrend, a correction is observed (red candles) followed by another possible uptrend (green candles). This could indicate consolidation before a new rise.
Elliott Waves: The lines drawn represent waves (1) to (5), suggesting an Elliott wave pattern. This implies a cyclical market movement with impulse and correction phases.👋👋👋🔥🔥🔥🔥
Technical Indicators:
MA7: 7-period moving average.
MA25: 25-period moving average.
MA99: 99 period moving average.
Parabolic SAR: Points located below the Japanese candles, indicating an upward trend.🚀🚀🚀🚀🤑🤑🤑
In summary, the market shows signs of initial growth, followed by corrections and possible upside. Technical indicators support this interpretation. However, it is always important to consider other factors before making trading decisions.
