Jupiter

<p>Crypto analyst Sjuul from AltCryptoGems shared insights on X (formerly Twitter) about <a href="https://captainaltcoin.com/analyst-backs-jupiter-jup-to-continue-price-rally-post-breakout-supports-claim-with-technical-analysis/" target="_blank" rel="noopener noreferrer nofollow">Jupiter’s (JUP) price</a> and the potential for a rebound from a critical support level. He noted that this move was anticipated weeks in advance, highlighting a disciplined approach to trading.&nbsp;</p>
<p>The chart posted by Sjuul aligns with his strategy, showing JUP’s current position in a support zone where a bounce is expected. With recent price movements retracing to this area, Jupiter may see renewed buying interest, aiming for higher highs.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/why-is-the-troy-price-pumping/" target="_blank" rel="noopener noreferrer nofollow">Why is the TROY Price Pumping?</a></em></strong></p>
<h2 class="wp-block-heading" id="jupiter-chart-analysis-strong-bullish-pattern-observed">Jupiter Chart Analysis: Strong Bullish Pattern Observed&nbsp;</h2>
<p>The Jupiter chart demonstrates a steady bullish trend, marked by higher highs and lower lows, signaling potential upward momentum. After a recent peak, the JUP price retraced, settling within a key support zone, identified as a “grey box” on the chart.&nbsp;</p>
<p>This area is where the analyst believes bulls may step in, potentially triggering a price rebound. The tweet from Sjuul states, “Grey box would be a perfect place for bulls to step in,” underscoring this zone’s significance as a foundation for continued bullish movement.</p>
<p>This trend indicates that if JUP’s price maintains this pattern, it could advance toward new highs, with the grey support zone acting as a potential springboard.</p>
<figure class="wp-block-image aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="512" src="https://captainaltcoin.com/wp-content/uploads/2024/11/image-137-1024x512.png" alt="" class="wp-image-578204" srcset="https://captainaltcoin.com/wp-content/uploads/2024/11/image-137-1024x512.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-137-300x150.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-137-768x384.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-137-1536x768.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-137-2048x1024.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-137-100x50.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-137-700x350.png 700w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-137-788x394.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/11/image-137.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption"><strong><em>Image Source: <a href="https://x.com/AltCryptoGems/status/1853733997454737870" target="_blank" rel="noopener noreferrer nofollow">X/SjuulAltCryptoGems</a></em></strong>
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<h2 class="wp-block-heading" id="potential-reversal-pattern-at-key-support-level">Potential Reversal Pattern at Key Support Level</h2>
<p>The chart hints at an inverse head-and-shoulders pattern, commonly associated with bullish reversals. This setup includes two smaller dips, or “shoulders,” flanking a larger central dip, or “head,” within the grey support area. Such patterns often suggest accumulation, where buyers step in, preparing for a potential upward movement.</p>
<p>Sjuul supports this analysis by referring to a planned entry at this level, reflecting a calculated approach. As the price holds within this support area, the pattern may strengthen, increasing the chances of a rebound toward previous highs or beyond.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/not-bitcoin-but-dogecoin-doge-price-is-pumping-ahead-of-the-us-elections-heres-why/" target="_blank" rel="noopener noreferrer nofollow">Not Bitcoin, but Dogecoin (DOGE) Price is Pumping Ahead of the US Elections – Here’s Why</a></em></strong></p>
<h2 class="wp-block-heading" id="analyst-s-tweet-highlights-a-disciplined-trading-approach">Analyst’s Tweet Highlights a Disciplined Trading Approach</h2>
<p>Sjuul emphasizes a methodical approach to trading JUP, noting that he had “planned this 2 weeks in advance” and waited patiently for the support level to be reached. His advice to “be patient” and “execute” reflects a disciplined trading mindset that aligns with the chart’s current setup.</p>
<p>The upward arrow in the chart illustrates the expected bounce, which aligns with the analyst’s strategy. If this support level holds, it could pave the way for a stronger price movement, as envisioned in the tweet.</p>
<p>A downward-sloping trendline is visible on the chart, marking short-term resistance that <a href="https://coinmarketcap.com/currencies/jupiter-ag/" target="_blank" rel="noopener noreferrer nofollow">JUP’s price</a> would need to break through to confirm a bullish continuation. If the price surpasses this line, it would signal increased buying pressure, potentially leading to further gains.</p>
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<p>The post <a href="https://captainaltcoin.com/this-analyst-explains-why-jupiter-jup-price-could-bounce-from-this-support-level/" rel="noopener noreferrer nofollow">This Analyst Explains Why Jupiter (JUP) Price Could Bounce from This Support Level</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

This Analyst Explains Why Jupiter (JUP) Price Could Bounce from This Support Level

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