#JUP is now in the verge of forming 3 descending peaks.
These 3 descending peaks were formed after sellers became more aggressive as the price of JUP surged. It was a notable rise in price as it came to the top just like #JASMY . We already know the common factors as to why JUP surged in price, such as being a decentralized exchange aggregator for the Solana ecosystem, being recently listed and so many more. This shows that as the investors' interest piqued other buyers as well, they were already being cautious of the possibility of having a total breakdown from this token. As evident with the 3 descending peaks, there has been an overall bearish sentiment along with the rejection of BTC. The way we can see JUP is once it gets to form the 3rd peak, a breakdown could occur and potentially leading to a high rate of declining profit for sellers and a potential discount for buyers.
To those who have entered our sell/short signal last July 29, 2024, you can actually hold for a possible swing/position trade and higher profitability. Although, keep in mind that you may implement strategies to ensure you gain profit or you take no losses, e.g.: breakeven, stop loss at profit levels, etc.
