JUP, the native token launched by Solana’s DEX platform, has surpassed all other cryptos in the top 100 premium tokens list. In just 1 day, crypto prices went up 18%.
Consequently, altcoin levels have reached their highest levels since March 7th. Besides the sharp price growth, JUP has also witnessed a rise in the trading volume, now slightly above $100 million.
It indicates a substantial growth in interest received against crypto trades.
Jupiter Bulls Recover From Consolidation
Jupiter’s crypto price growth increased the altcoin’s price from $0.54 on Sunday to $0.61 at press time. CCN found that the primary stakeholders played a pivotal role in this growth!
Open Interest Rises
The number of coin owners holding over 10,000 JUP has increased. Moreover, the Open Interest has also increased. Here, OI is the total valuation of all the contracts open now!
Price Analysis of JUP
From a technical analysis perspective, it seems that JUP’s price has hit higher lows, which are preceded by higher highs.
However, the most significant issue is that the Money Flow Index has passed the signal line. The growth above the signal line suggests a substantial rise in the buying pressure. Alongside, the green line of the visible Supertrend is trending below the market value of the altcoin market.
If the trend continues, JUP may face a sharp growth over the upper resistance level, flagging at $0.67. After validation, the coin’s following target might witness a rally at a Fibonacci level of 0.382.
