JUP in Danger: Are We in for a Crash?

18 Şub

JUP has been on a four-day downtrend, and it's starting to show its bearish side. The token has lost its yearly open, which was a major support level. Let’s break down the key support and resistance to see what the chart is telling us.

Support & Resistance

Resistance:

• Yearly Open & Monthly Level: JUP has dropped below the yearly open at $0.8169 and the monthly level at $0.7427
  

Support:

• Long-Term Range & Liquidity: JUP has been trading within a range for over 300 days, with a significant amount of liquidity below the low at $0.6328 from 5 July 2024.
  
• POC: The volume profile shows the POC sitting at around $0.5, marking an attractive entry point for a long position.
  
• Fibonacci Confluence: The 0.786 Fibonacci retracement level falls just below the key low at $0.431 (a level last seen on 12 February 2024), offering a great long trade setup.
  

Long Trade Opportunity:

Alarms are set, let's see if JUP drops to these key support levels. If it does, we could have a solid long setup on our hands.

9 Mar

İşlem aktif

JUP has now reached the $0.50 mark, aligning perfectly with the Point of Control (POC) from the volume profile. The next key level to watch is the 0.786 Fibonacci retracement at $0.431, a confluence zone for a potential long setup.

Alarms are set! Let’s see how low we go! So far, price action is moving as predicted 👀🔥