Jup is still trading near its recent low but is beginning to show signs of strength after recording a substantial loss over the past week. It signals a buy and might regain momentum if the demand level continues to rise. This month’s bearish crossover took many traders by surprise as Jup lost momentum after forming a strong bullish pattern in January. Sentiments quickly became negative and the price rolled back under the $1 level. Luckily for the bulls, the $0.77 level contained selling pressure and the price consolidated for a week after multiple rejections. While this level has been a critical support for two months, the bulls have continued to take advantage of it, serving as an entry point for a fresh buy. As now seen on the daily chart, demand increased and the price moved slightly out of the consolidation phase to where it is now changing hands at $0.91. A surge above the previous monthly high should validate the new bullish (double-bottom) pattern forming on the daily timeframe. Such a pattern could facilitate a major rally in the future. Currently, the bears have lost control, and as a result, they may suffer losses if the price continues to increase on a daily scale. Following this bullish formation, negative sentiments surrounding this market will likely fade away soon. JUP’s Key Level To Watch Source: Tradingview The target resistance level for the latest surge is $1. Overcoming it will bring us back to last month’s $1.28 resistance, followed by $1.44. A flip above this resistance level should rally the price to a new high. In case of a drop, the $0.77 support level should continue to hold. A key breakdown there could dip the price to $0.71 and probably $0.65. Key Resistance Levels: $1, $1.28, $1.44 Key Support Levels: $0.77, $0.71, $0.65 Spot Price: $0.91 Trend: Bullish Volatility: Low Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: grrecaredo/ 123RF // Image Effects by Colorcinch