The JUP market is at an intersection. On the one hand, it faces strong sales pressure, while on the other hand, it is supported by positive news and technical recovery signals.
Does Jup find a bouncing bottom right away, or will he continue his downward slide?
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Basic motivation
Jupiter (JUP) recently announced a series of important developments that could serve as medium-term catalysts. The project launched Jupnet, integrated with Bitcoinkit, opening the door to native BTC cross-chain defi. If successful, Jupnet allows BTC Capital to easily flow into Defi applications such as loans, agriculture, and multi-chain liquidity, thereby enhancing Jupiter’s practical use cases.
At the same time, 21Share, one of Europe’s most reputable crypto investment product publishers, has announced Ajup, an ETP-like product that can be exposed directly to JUP. The presence of Ajup helps JUPs reduce their reliance on retail-driven flows and increase awareness from traditional markets.
When implemented effectively, these movements improve the usefulness of the ecosystem and enhance Jupiter’s ability to attract institutional capital.
Technical Signal: Potential from the $0.41 zone
However, on the spot, JUP is under great pressure as prices plummeted from their peak. Beincrypto data shows that Jup has dropped 78% from an all-time high, marking a sudden Jup drop. Emphasizing the size of trading volume and liquidity data sales, market capitalization and TVL suggest a fundamental gap between price action and chain.
Technically, the short-term chart shows that Jup is bounced slightly off the support around $0.41. The moving average serves as a major resistance level, between $0.44 and $0.45. Indicators such as MACD hint at bullish crossovers, but RSIs climb from sold territory. This shows the fair potential for short-term rebounds.
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However, the bears still dominate the overall momentum. A critical break above $0.45 could then target $0.48.
That said, community sentiment plays an important role. Partnerships may not be enough. Many community members are calling for measures like buybacks and token burns to reduce circulating supply and restore confidence.
“Yall Needa does a little more buyback and burns and more. This is a pathetic price action. I know Yall is making shit. – Beware X users.
Defillama’s data shows that Jupiter remains one of the top four Dex collections in terms of trading volume over the past 24 hours. The accumulated expenses and revenue so far are USD 1.24 billion and USD 313 million, respectively.
Furthermore, as reported by Beincrypto, Meteora’s allocation to Jup Stakers to 3% TGE is seen as a sensible liquidity move to encourage staking and generate sustainable token demand. If liquidity and staking initiatives are implemented properly, they could ease short-term sales pressures and improve chain structures.
In summary, JUP’s path to recovery is authentic, but not automatic. It depends on whether positive catalysts can be effectively implemented, whether sales pressures subside and community trust is restored through governance measures or meaningful on-chain adjustments.
