Jupiter (JUP) price could be about to see some volatility as it reaches a level that has been a source of volatility in the past. This was also noted by crypto analyst Ali (@ali_charts), who identified a crucial support level that could determine JUP’s next major price movement.
Jupiter price was at $0.71342 at the time of the post, showing a modest decline of 1.02% in the latest trading session. The cryptocurrency has been trending downward from its recent peak of over $1.30, catching the attention of market participants watching for potential reversal points.
Critical Support Level for JUP Price
According to Ali’s technical analysis, JUP is approaching a decisive moment at the $0.69 support level. This price point has historically served as a strong foundation for price rebounds, making it particularly significant for traders looking to enter positions.
As Ali notes, “Jupiter is approaching a critical support level at $0.69, which could provide the foundation for a rebound toward $1!”
The path upward isn’t without its challenges. The psychological $1.00 mark stands as the first major hurdle for any potential recovery. Beyond that, traders should watch the $1.30 to $1.40 range, where previous rallies have faced significant selling pressure.
Read Also: Crypto Veteran Warns: XRP Price Is Due to a Pullback After 11% Pump
Jupiter Potential Price Scenarios
The market appears to be at a crossroads. If the $0.69 support level manages to hold firm, Ali’s predicted bounce toward $1.00 could materialize, offering significant opportunities for traders.
However, there’s also a more cautious scenario to consider. Should the price break below the critical $0.69 support, we could see further downside movement, potentially testing lower support levels between $0.62 and $0.55.
The current market sentiment and momentum suggest sellers have the upper hand, but as Ali emphasizes, the $0.69 level will be crucial in determining whether bulls can regain control and push toward higher targets.
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