TradeCityPro | JUP : Prepping for a Breakout
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In this analysis, I’ll be reviewing the JUP coin. This token is the native token of the Jupiter project, part of the Solana ecosystem, and operates in Solana’s DeFi space.
📅 Daily Timeframe: Breakout from the Box?
In the daily timeframe, we see a long-term box pattern ranging from a bottom at $0.6818 to a top at $1.2542, with the price currently at the upper limit of the box.
🧩 A rising trendline is also visible, with the price touching it three times so far, each time being pushed upwards.
📊 Buying volume has been increasing from the bottom of the box, and now, after reaching the resistance at $1.2542, the reducing volume during the correction indicates the strength of the trend.
🔼 If $1.2542 is broken, the next resistance level will be at $1.7463. Upon breaking $1.7463, it is highly likely that a new all-time high (ATH) will be achieved.
✨ The RSI indicator also shows a rising trendline, and as long as the price remains above this line, the momentum is considered bullish. If 63.41 on the RSI is broken, stronger bullish momentum is likely to enter the market.
📉 In a correction scenario, if the price trendline and the RSI trendline are broken, the first target will be $1.0289, and the second will be $0.8625.
⏳ 4-Hour Timeframe: Futures Triggers
In this timeframe, we can observe the price action in more detail.
📈 If $1.2542 is broken, the price can move towards $1.4619. This trigger looks highly favorable, and I will personally attempt to open a long position if the price stabilizes above this level.
🔽 For short positions, you can consider entering after the trendline and $1.0441 are broken, although I personally avoid opening short positions in the current market conditions.
🔑 As long as the RSI remains above 50, the likelihood of breaking $1.2542 increases.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
In this analysis, I’ll be reviewing the JUP coin. This token is the native token of the Jupiter project, part of the Solana ecosystem, and operates in Solana’s DeFi space.
📅 Daily Timeframe: Breakout from the Box?
In the daily timeframe, we see a long-term box pattern ranging from a bottom at $0.6818 to a top at $1.2542, with the price currently at the upper limit of the box.
🧩 A rising trendline is also visible, with the price touching it three times so far, each time being pushed upwards.
📊 Buying volume has been increasing from the bottom of the box, and now, after reaching the resistance at $1.2542, the reducing volume during the correction indicates the strength of the trend.
🔼 If $1.2542 is broken, the next resistance level will be at $1.7463. Upon breaking $1.7463, it is highly likely that a new all-time high (ATH) will be achieved.
✨ The RSI indicator also shows a rising trendline, and as long as the price remains above this line, the momentum is considered bullish. If 63.41 on the RSI is broken, stronger bullish momentum is likely to enter the market.
📉 In a correction scenario, if the price trendline and the RSI trendline are broken, the first target will be $1.0289, and the second will be $0.8625.
⏳ 4-Hour Timeframe: Futures Triggers
In this timeframe, we can observe the price action in more detail.
📈 If $1.2542 is broken, the price can move towards $1.4619. This trigger looks highly favorable, and I will personally attempt to open a long position if the price stabilizes above this level.
🔽 For short positions, you can consider entering after the trendline and $1.0441 are broken, although I personally avoid opening short positions in the current market conditions.
🔑 As long as the RSI remains above 50, the likelihood of breaking $1.2542 increases.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
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💰 Join the Telegram Channel Now: t.me/Tradecityproint
🏆 Best Crypto Exchange: bit.ly/tcpbit
🤵 Business Contact: Tradecityproteam@gmail.com
Penafian
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