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JUNO Cryptocurrency Surges 670% in 32 Hours, Market in Frenzy!
JUNO Cryptocurrency has shown strong performance recently, and bullish prospects can be expected in the coming days.
But traders and investors should keep an eye out, as returns may shrink if demand does not keep up.
Did you know? This cryptocurrency, JUNO, surged 670% in just 32 hours, with the price soaring from $0.088 to $0.6811. But after that, it dropped by 24%. If it falls below $0.4, the decline may be even greater.
Now that the bull market is heating up, thousands of tokens are emerging every day. However, only a few can truly attract attention and drive demand.
The JUNO token started trading in November 2021. At its peak, on March 3, 2022, it reached $45.74.
But then, the price plummeted like going down a slide, dropping drastically. By November 2022, it was down to around $2, a decline of 94%. However, recently daily trading volume increased by 200%, now standing at $11.75 million.
As for whether JUNO can recover, the 4-hour chart shows its performance is still quite strong, and high trading volume is a good sign.
This indicates that there may still be a wave of profit. That said, no one can guarantee this.
The market structure is currently bullish, with the CMF indicator at +0.35, indicating a significant inflow of funds. The increase in daily trading volume also proves this. The MACD indicator also shows a strong upward momentum, which has not yet begun to weaken.
But you should be cautious, as despite the recent gains, this token is still down 98.9% compared to its historical peak. So, returning to the previous highest point will be quite challenging.
Traders, you might consider looking at Fibonacci retracement levels. If it drops to $0.314 or $0.215, that may be a good buying opportunity. But remember, opportunities always come with risks.
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