Starting this week on a strong note, Jup advanced bullish and continued to show signs of bullishness on the daily chart. It seems poised to claim more highs following a slight break above the previous weekly high. While many altcoins are still struggling to recover from their recent violent but brief drag down, triggered by Bitcoin’s pullback during last week’s trading, Jup regained strength after sharply rejecting $0.5. This led to a fresh increase, and the crypto started this week on a strong note. Climbing well above the $0.6 level in the last 24 hours, it is now slowly breaking out of a weekly resistance to retest a pivot level that triggered a major crash in March. This level will likely stop the bulls. A rejection there should bring a pullback in the market before resuming its bullish continuation pattern in the form of a higher high and higher low pattern, as we can see on the daily chart. However, if the price keeps rising, March’s resistance would be the next stop for the bulls. Taking a close look at the daily chart, the bullish pattern is supported by a rising trendline. If the price fails to respect this trendline, a breakdown there could bring selling actions back into the market. With the latest price setups, the bulls are currently in charge of the market. JUP’s Key Level To Watch Source: Tradingview Anticipating a surge toward the pivot $0.74 level that broke down in March, the main resistance to watch above it is $0.87. A flip through it should allow more buying to the key $1 level before taking a break. Towards the downside, there’s a close support at $0.575. A pull below the rising trendline could slide us back to $0.51 and $0.44 in no time. Key Resistance Levels: $0.74, $0.87, $1 Key Support Levels: $0.575, $0.51, $0.44 Spot Price: $0.64 Trend: Bullish Volatility: High Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
