The price of Jupiter (JUP) is attracting traders' attention as it may be on the verge of a trend reversal.
Current Situation Analysis
Traders are closely monitoring Jupiter's price action, noting a potential end to its long-standing downtrend. Recent price movements may indicate the start of a larger bullish wave if JUP can surpass key resistance levels.
JUP Technical Levels
The JUP price has reached resistance areas between $0.50 and $0.52, which have previously rejected upward attempts. A close above these levels could signal a trend change. Higher resistances are likely to appear around $0.70 and a critical level near $1.00.
Market Volume and Protocol Usage
According to The Solana Post, JUP recently surpassed the combined volume of 24-hour aggregators such as 1inch and OKX DEX, indicating increased user activity. A successful recovery of the $0.50 support level could confirm changes in JUP's market structure.
The current situation surrounding Jupiter (JUP) price offers traders opportunities for observation and analysis, especially regarding key resistance levels and increased trading activity.
