Jupiter's Potential: A Deep Dive
Jupiter ($JUP ) stands out as one of the most sophisticated swap aggregation engines in the industry, serving as vital liquidity infrastructure for the Solana ($SOL ) ecosystem.
With its current price at $1.48 and a market cap of $1,971,417,315, Jupiter boasts a circulating supply of 1,350,000,000 JUP out of a total of 10,000,000,000 JUP.
Let's talk support and resistance:
Support levels for Jupiter, based on today's price of $1.45, are estimated at $0.881122, $1.2, and the strongest at $1. On the flip side, resistance levels are set at $1.5, $2, and $3.
Now, the big question: Will Jupiter hit $1,000?
To achieve this milestone, Jupiter would need to surge by an impressive 72,796.72%. However, both technical and fundamental analyses suggest this target is highly improbable. My price prediction for Jupiter in the next year hovers between $60 to $100, requiring a gain of 6,802.02% to hit $100 and 590.96% to reach $10.
In terms of correlation over the past week, Jupiter's price has shown positive connections with Solana Conflux Network ($CFX), Binance Coin ($BNB), and 0x ($ZRX), while displaying negative correlations with Bittensor ($TAO), TRON ($TRX), and others.
