Jupiter (JUP) Downtrend Intensifies, Potential Drop to Multi-Month Lows

JUP, the native token of the Solana-based decentralized exchange Jupiter, has maintained a downtrend since July 29. 

The altcoin’s decline was worsened by Monday’s market downturn, causing its price to plunge to a five-month low, a level it now risks revisiting.

Jupiter Bears Have the Upper Hand

At press time, JUP trades at $0.88. The broad market recovery since Tuesday has driven JUP’s price up nearly 10% in the past 24 hours. However, the 44% decline in its trading volume indicates a negative divergence.