JUP in Danger: Are We in for a Crash?
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:
Support:
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.
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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.