Jupiter (JUP) is once again attracting traders' attention after an analyst Sjuul from AltCryptoGems commented on the potential breakout from the manipulation zone.
Market Context and Jupiter Price Action
Currently, JUP is priced around $0.50 after a slight recovery from a failed breakout at $0.63. This rejection was significant, pushing the token down more than 14% and forcing it back into a narrow support band around $0.51 to $0.54. This zone has become a battleground between buyers and sellers. If above it, bulls maintain their hopes. If lost, JUP price could sink back to July lows near $0.39.
Momentum Indicators Paint a Mixed Picture
Momentum indicators are giving the market a reason for optimism. On shorter timeframes, the JUP price seems to have broken out of a descending channel. The Chaikin Money Flow has turned positive, showing renewed buying pressure, while the Awesome Oscillator also signals bullish momentum. This suggests that buyers are quietly re-entering the market. However, anyone who has traded crypto knows that breakouts can be deceptive. Unless the move above resistance is supported by volume and conviction, it can unravel quickly.
What Comes Next for JUP Price?
For now, it’s about patience. If the token can reclaim the upper range and build momentum, the next phase could be explosive, with the one-dollar mark acting as a beacon for traders awaiting price discovery. But if the $0.51 support fails, the chart indicates the $0.39 area once again, resetting expectations and cooling the hype.
As of now, JUP price remains trapped in its manipulation area, with everyone waiting to see who blinks first: bulls fighting for a breakout or bears anticipating another breakdown.
