Jupiter’s native token, JUP, drew heightened attention on the 28th of January as its airdrop approached.
The focus centered on distribution mechanics rather than price gains alone.
Jupiter [JUP] confirmed plans to distribute 200 million JUP tokens on the 30th of January. Of that total, 175 million tokens targeted fee-paying active users, while 25 million were allocated to stakers.
That update coincided with a sharp rise in market participation. Price gains aligned with rising activity across spot and derivatives markets.
At press time, JUP traded at $0.2217, up roughly 15% over 24 hours. Spot Volume climbed 210% to $63.64 million, reflecting elevated trader engagement.
However, another catalyst shaped sentiment. Coinbase completed its Solana [SOL] chain integration during the same period.
That move enabled users to trade Solana-based tokens directly on Coinbase through Jupiter’s aggregation layer. The integration expanded Jupiter’s reach beyond native Solana users.
Can JUP clear resistance?
On the daily chart, JUP formed a double-bottom structure near the $0.20 region. Price moved toward the neckline near $0.233 after the recent rally.
A decisive break above that level could have opened room toward $0.32. That target implied roughly 35% upside from current levels.
However, previous attempts near $0.233 triggered reversals. The bullish setup required a sustained close above that resistance.
JUP also traded above the 50-day Exponential Moving Average, signaling short-term trend strength.
Leverage clusters shape risk
Data from CoinGlass showed concentrated leverage on both sides of JUP’s range.
According to the latest data, traders were heavily overleveraged at $0.201 on the downside, where strong interest is recorded, and at $0.234 on the upside, where comparatively lower interest is observed.
At these levels, traders had built approximately $2.22 million worth of long-leveraged positions and $1.13 million worth of short-leveraged positions.
This positioning suggests that intraday and short-term market sentiment remains bullish.
During 2025, JUP dropped over 75%, falling from $0.943 to near $0.215. That history kept long-term sentiment cautious.
Reacting to the recent breakout attempt, a market commentator wrote,
“JUP is officially out of the cage.”
The remark captured improving momentum but stopped short of confirming a trend reversal.
Final Thoughts
- Jupiter [JUP] faces resistance near $0.233, while liquidation exposure around $0.201 could magnify volatility quickly.
- A 200 million token airdrop and Coinbase’s Solana integration boosted Spot Volume and short-term speculative demand.
