Jupiter Coinhas seen an impressive 8.66% appreciation on the daily charts. The market has moved from the previous strong support level of $0.7931 to the resistance level of $0.90. This indicates a price difference of $0.20 in a short period of time and a major performance improvement.
However, along with the daily increase, a significant decrease is observed on the weekly charts. The weekly chart shows a price decrease of 17.89%, indicating that the price of Jupiter Coin has experienced significant fluctuations and is generally in a downward trend. According to CoinMarketCap data, the altcoin is currently trading at $0.8675 and its market cap is $1,170,186,069. Its trading volume has decreased by 25.84% to $183,746,781.
Jupiter Coin Price Analysis
On the daily chart of JUP/USD, the price is currently at $0.827 and is up 4.10% in the last 24 hours. The price recently bounced off the lower trend line and found support at this level. The chart shows the key support and resistance levels ranging from $0.4426 to $1.8574, highlighting the market’s potential for rapid change and high volatility.
Fibonacci retracement levels indicate that significant volatility is likely in the market. Currently, the price is interacting with the 61.8% retracement level at $0.6104, which is usually associated with strong support or resistance. Furthermore, the 50% retracement level also stands out as a significant support area and suggests that the market may move lower.
The RSI is currently at 51.69, close to neutral territory. This suggests that buying and selling pressures are balanced. However, if the RSI breaks above 60, a small increase could indicate bullish momentum. The moving average and MACD lines are in a downtrend, and the MACD histogram shows red bars. This suggests bearish momentum in the market. If this trend continues, a potential reversal could occur and the price could rally.
Source : crypto news land
