Key Takeaways
What’s driving Jupiter’s momentum?
TVL jumped $189 million to $3.36 billion, while Perpetual Volume hit $3.34 billion – clear signs of growing market participation.
What should JUP traders watch now?
MFI at 76 and ADX strengthening point to rising trend strength, but $0.40 remains the breakout test.
Jupiter [JUP] rallied 8% in the past 24 hours and 14% over the week, surprising the market with renewed bullish momentum. Protocol activity and capital inflows have been instrumental in driving this recovery, signaling revived investor sentiment.
Capital inflows lift investor confidence
After JUP’s Total Value Locked (TVL) dropped to $3.17 billion on the 23rd of October, it rebounded to $3.36 billion—a gain of roughly $189 million.
TVL reflects the total assets locked in the protocol and often mirrors user confidence. This sharp recovery suggests participants are regaining trust in JUP’s reward potential.
Source: DeFiLlama
Similarly, protocol activity has also increased. Data from DeFiLlama showed that weekly Perpetual Volume on decentralized exchanges reached $3.34 billion, reinforcing the renewed demand for the altcoin.
While this volume is notable, it’s important to highlight that such transactions directly affect JUP’s demand, which has likely contributed to its price growth.
What’s the bullish limit?
Despite the optimism, JUP faced a key resistance zone around $0.40 at press time—a level that has historically triggered sell-offs.
The last time JUP entered this resistance area, it faced a sharp 21% pullback. The token is once again testing this zone, and traders remain cautious about a repeat rejection.
Source: TradingView
However, the previous dip on the 14th of October coincided with a broader market correction. As selling pressure eases, the likelihood of another steep retracement appears lower this time.
Indicators signal further upside
Technical indicators also point to a positive price outlook.
The Money Flow Index (MFI) stood at 76.52, firmly within the 50–80 accumulation band—signaling strong capital inflows. Meanwhile, the Average Directional Index (ADX) climbed to 21.54, showing a strengthening trend.
Source: TradingView
Combined with JUP’s 8% daily rise, both metrics point to increasing bullish momentum. If buying pressure sustains, JUP could break above $0.40, targeting the next resistance around $0.45–$0.47 in the short term.
