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

Crypto analyst Sjuul from AltCryptoGems shared insights on X (formerly Twitter) about Jupiter's (JUP) price and the potential for a rebound from a critical support level.

Cryptocurrency analyst Sjuul shared his thoughts on Jupiter's (JUP) price and a potential bounce from a key support level. He highlighted this move in his X (formerly Twitter) post, noting that it was anticipated weeks in advance.

The chart posted by Sjuul aligns with his analysis, showing JUP’s current position in a support zone from which a bounce was expected. With recent price movements retracing to this area, Jupiter might see renewed buying interest, aiming for higher highs.

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Bullish Pattern on Jupiter Chart: Potential Price Reversal

The Jupiter chart showcased a bullish trend, marked by higher highs and lows, indicating potential upward momentum. After a recent peak, JUP’s price retraced, leading to a consolidation period within a key support zone, depicted as a “grey box” on the chart.

This area is where the analyst anticipated bulls might step in, possibly triggering a price rebound. Sjuul's X (Twitter) post highlighted this zone, stating, “Grey box would be a perfect place for bulls to step in.”

This trend indicated that if JUP’s price continues to follow this pattern, it could ascend toward new highs, with the grey support zone serving as a potential springboard.

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Chart Insinuates Inverse Head-and- Shoulders at Key Support

The chart hinted at an inverse head-and-shoulders pattern, which is typically associated with bullish reversals. This setup featured two smaller dips, or “shoulders,” flanking a larger central dip, or “head,” within the grey support area. Such patterns often indicate accumulation, where buyers might be entering the market, preparing for a potential upward move.

Sjuul's planned entry at this level further supported this analysis, reflecting a calculated trading approach. As the price held within this support zone, the pattern might strengthen, increasing the chances of a rebound toward previous highs or higher.

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Analyst’s X (Twitter) Post Showcases a Disciplined Trading Strategy

Sjuul highlighted a methodical approach to trading JUP, stating that he had “planned this 2 weeks in advance” and patiently waited for the support level to be reached. His advice to “be patient” and “execute” reflected a disciplined trading mindset that corresponded with the chart's current setup.

An upward arrow on the chart indicated the expected bounce, which corresponded with the analyst's strategy. If this support level held, it could pave the way for a stronger price movement, as envisioned in the X (Twitter) post.

A downward-sloping trendline was visible on the chart, marking short-term resistance that JUP’s price would need to break through to confirm a bullish continuation. If the price surpassed this line, it would signal increased buying pressure, potentially leading to further gains.

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