Jupiter price action

Disclaimer: This analysis is for informational purposes only and does not constitute financial advice.

Jupiter(Jup) is currently floating between 1.03 and 1.08 , indicating the price is in a premium zone in daily time frame. At this moment the price is 1.048 which is above the 0.5 level Fibonacchi retracement. The monthly and weekly chart confirm a ranging trend 📈 sign.

The price is facing multiple rejections from 1.21 and 1.31 is act like a major resistance weekly time period. Which means there is a liquidity is storing over this level.

According to the latest generated data, this 58 rank token surpassed 111.96 million trading volume in last 24 hour with 17.87% of depreciation. So there is a possibility that the price might go for downside liquidity. Despite 0.81 act as a safety support level, the liquiditys are also stored below this level.

As the price is now moving in premium level so it should be better to wait and see the price come to the discount zone. An entry between 0.75 and 0.85 would be a wise decision. For short term profit target should be 1.41. However the reputation of this token is well in the market and rapidly increasing transaction volume in Dex exchange indicates the price of this token in future(bull season) might surprise everyone.