- Jupiter passed the local resistance zone at $0.95, and the price was slightly below the resistance of $1.15 at press time.
- There is a possibility of falling to $1.06 soon
Jupiter (JUP) saw a high of 36.76% on Saturday, January 18. The last 24 hours of trading saw 34% gains and a 678% increase in the daily trading volume for Jupiter. This seemed to be a strong bullish sign for the altcoin.
The altcoin market structure was bullish on both the daily and 4-hourly charts. However, there may be potential for a pullback towards $1. How deep could this dive go? There was strong support at $1.06, nearly 9% below the market price at press time.
JUP bulls challenge the $1.15 front
Source: JUP/USDT on TradingView
Over the past nine months, the bulls have strongly defended the 78.6% level at $0.76. These levels were designed based on Jupiter's rally in March from $0.47 to $1.84.
The daily bullish structure was encouraging, and the RSI was well above neutral 50, indicating a strong upward trend. Along with this trend was higher demand. The OBV passed a local high to indicate more buying pressure as well.
Demand and momentum could be enough to carry JUP past the local resistance at $1.15 and $1.23. Over the next week or so, the $1.44 local highs are likely to be challenged again.
Source: JUP/USDT on TradingView
The H4 chart marked the big move in the past few days. The local resistance at $0.95 and $0.99 was easily swept aside and barely reconfirmed as the crypto price went higher.
The 4-hour chart move was overvalued, which was not necessarily bearish. However, the OBV dip over the last few sessions indicated some profit. A move towards the $0.95-$1 support area may be possible in the coming days. If tested, this area would provide a buying opportunity.
Source: Coinglass
Read the Jupiter's (JUP) price forecast 2025-26
The melt map noted more melt leverage to the south, than to the north. Therefore, it is possible to start hunting for liquidity and short-term price reduction. The $1.11 and $1.06 levels would be short-term targets in case of such a drop.
Disclaimer: The information presented does not constitute financial, investment, trading or other types of advice and is solely the opinion of the writer.
Source: https://ambcrypto.com/jupiter-jup-price-prediction-36-hike-but-is-the-risk-of-profit-taking-still-there/
