$JUP Price Prediction: Buying Pressure Needed To Sustain Rally - BeinCrypto Analytics

JUP has experienced a notable double-digit rally over the past month, pushing its price above the Ichimoku Cloud, a widely-used technical indicator for assessing market momentum. Trading above the cloud signals a strong bullish trend, suggesting that buyers dominate the market and sentiment is positive. Since October 18, JUP’s price has remained above the cloud on the daily chart, highlighting potential support levels.

Currently trading at £1.01, JUP is approaching a key resistance level of £1.09. If the buying pressure persists, the altcoin could break this resistance and target the next critical level of £1.23. A successful move above this would set its sights on the six-month high of £1.38.

However, if profit-taking ensues, JUP could retrace toward the Ichimoku Cloud support levels at £0.90 and £0.86. A drop below these supports could send the price plummeting toward the July 5 low of £0.63. Traders should watch for shifts in momentum as JUP approaches key resistance.