Mr.Arshman

06/16 16:33

Jupiter price jumps 40% as bulls challenge key res

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Jupiter price has rebounded sharply from a multi-month low near $0.145 and is now testing the $0.20 resistance area as momentum indicators turn bullish. According to data from crypto.news, Jupiter’s native token $JUP climbed from a low of around $0.145 on June 11 to an intraday high near $0.20 on June 16. The rebound came as traders returned to risk assets following reports that the United States and Iran had advanced toward a ceasefire framework that could reopen the Strait of Hormuz and ease concerns over energy supply disruptions. The improvement in market sentiment triggered gains across cryptocurrencies, particularly among high-beta altcoins that had been under pressure for much of the year. As one of Solana’s largest decentralized finance platforms, Jupiter benefited from renewed activity across the network as capital flowed back into decentralized trading applications. At the same time, trading activity on Jupiter accelerated. Daily volume increased sharply during the rally, with reported 24-hour turnover surpassing $46 million. Rising spot demand coincided with liquidations of bearish positions on derivatives exchanges, creating additional buying pressure as traders were forced to close short positions. Jupiter’s recent price action suggests the recovery began before the geopolitical catalyst emerged. On the daily chart, $JUP established a local bottom near $0.145, a level that had previously acted as a major support area.Jupiter daily price chart — June 16 | Source: crypto.news Technical indicators have since improved. The daily Relative Strength Index climbed above 58 after spending weeks below neutral territory, while the MACD indicator produced a bullish crossover and moved back into positive momentum. On the four-hour chart, $JUP also reclaimed its Supertrend indicator, which shifted into bullish territory as th

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