$JUP = 1.90?🔥🔥⚡⚡
🚀 $JUP Next Move: Can Jupiter ($JUP ) Reach $1.90?
Jupiter (JUP) is showing promising signs of a potential breakout as bullish patterns emerge, sparking optimism among traders. 📈
Key Highlights:
1️⃣ Bullish Momentum Builds: A decline in Exchange Netflow suggests market participants are holding their JUP tokens, reducing supply on exchanges. Open Interest has also risen 2.62% in the last 24 hours, now at $169.02M, reflecting growing market confidence.
2️⃣ Technical Breakthrough: JUP recently broke the neckline of a cup-and-shoulders pattern at $1.2663, signaling the possibility of a significant rally. If the pattern holds, JUP could surge to $1.90, a new all-time high, with a potential 49.96% gain.
3️⃣ Market Liquidation Imbalance: Long liquidations dominate ($226,090 vs. $1,470 for shorts), indicating bearish pressure still lingers.
What to Watch
While bullish sentiment is evident, the disparity in liquidations suggests caution. If JUP sustains its upward momentum, it could overcome the bearish hurdles and establish a new high.
Will JUP rally to $1.90 or face resistance? Share your thoughts below!
Always DYOR!