Jupiter’s rally gains strength: Will JUP bulls target the $0.75 mark?
The post Jupiter’s rally gains strength: Will JUP bulls target the $0.75 mark? appeared on BitcoinEthereumNews.com. Open Interest spikes 19.24% as volume climbs, confirming bullish breakout above $0.62. Liquidation and inflow data signal rising pressure on shorts and sustained accumulation. Jupiter [JUP] has rallied 13.85% in the past 24 hours, driven by a 92.78% surge in trading volume to $170.63 million and a breakout from resistance last tested in March. The upward move aligns with a textbook cup-and-handle pattern, reflecting growing confidence among traders and confirming renewed demand. The sharp uptick in both price and volume signals a potential bullish continuation, especially as it aligns with broader on-chain and derivatives metrics. Has Jupiter confirmed a breakout? JUP’s price action has validated a classic cup-and-handle formation that began developing in early March. The breakout above the $0.60–$0.62 resistance range confirms the reversal of a long downtrend. Technically, this pattern is known for its strong continuation characteristics. The breakout not only overcame supply pressure but also did so with volume backing, which strengthens its reliability. As a result, the breakout could target the $0.75 level based on a measured move projection. This pattern provides a clear technical framework for further bullish continuation if current momentum holds. Source: TradingView Is rising OI strengthening the bullish setup? Open Interest has climbed 19.24%, reaching $148.48 million, reflecting renewed confidence in the rally. This sharp increase implies that traders are aggressively reopening long positions after the resistance breakout. Moreover, the rising Open Interest aligns with the surge in spot volume, confirming that both markets are synchronized in their bullish outlook. On the 23rd of May, spot inflows hit $16.64 million, while outflows trailed closely at $15.90 million, yielding a net positive balance. This slight inflow advantage signals steady accumulation rather than panic selling or mass distribution. Historical flow data shows no extreme spikes, further suggesting that current activity is organic and likely…
The post Jupiter’s rally gains strength: Will JUP bulls target the $0.75 mark? appeared on BitcoinEthereumNews.com.
Open Interest spikes 19.24% as volume climbs, confirming bullish breakout above $0.62. Liquidation and inflow data signal rising pressure on shorts and sustained accumulation. Jupiter [JUP] has rallied 13.85% in the past 24 hours, driven by a 92.78% surge in trading volume to $170.63 million and a breakout from resistance last tested in March. The upward move aligns with a textbook cup-and-handle pattern, reflecting growing confidence among traders and confirming renewed demand. The sharp uptick in both price and volume signals a potential bullish continuation, especially as it aligns with broader on-chain and derivatives metrics. Has Jupiter confirmed a breakout? JUP’s price action has validated a classic cup-and-handle formation that began developing in early March. The breakout above the $0.60–$0.62 resistance range confirms the reversal of a long downtrend. Technically, this pattern is known for its strong continuation characteristics. The breakout not only overcame supply pressure but also did so with volume backing, which strengthens its reliability. As a result, the breakout could target the $0.75 level based on a measured move projection. This pattern provides a clear technical framework for further bullish continuation if current momentum holds. Source: TradingView Is rising OI strengthening the bullish setup? Open Interest has climbed 19.24%, reaching $148.48 million, reflecting renewed confidence in the rally. This sharp increase implies that traders are aggressively reopening long positions after the resistance breakout. Moreover, the rising Open Interest aligns with the surge in spot volume, confirming that both markets are synchronized in their bullish outlook. On the 23rd of May, spot inflows hit $16.64 million, while outflows trailed closely at $15.90 million, yielding a net positive balance. This slight inflow advantage signals steady accumulation rather than panic selling or mass distribution. Historical flow data shows no extreme spikes, further suggesting that current activity is organic and likely…
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