Will Jupiter (JUP) Rebound or Continue Its Bearish Plunge?

• Jupiter (JUP) Price is currently at $0.7365 with a 13.01% drop in 24 hours.
• Market cap stands at $1.94B with a 17.64% market cap ratio.

Jupiter (JUP) is currently trading at $0.7365, marking a 13.01% decline in the past 24 hours. Its market capitalization now stands at $1.94 billion, down by 12.21%. Meanwhile, the trading volume surged by 38.93% to $342.72 million, resulting in a market cap ratio of 17.64%.

Jupiter shows immediate support at $0.72. If this level breaks, the price might test the next support around $0.68. On the upside, resistance stands at $0.75. A breakout above this could push the price toward $0.80.

The RSI is currently at 25.83, indicating oversold conditions. The RSI average line, however, sits higher at 35.90, suggesting possible near-term buying pressure. The CMF is at -0.28, signalling significant capital outflow. This reflects weaker buying interest and ongoing bearish sentiment.

Moving Averages and Crossovers

The moving average lines show a bearish crossover recently, with the shorter-term moving average dipping below the longer-term average. This crossover typically indicates continued downward pressure unless buying momentum increases.

If Jupiter breaks below the $0.72 support level, the bearish trend might intensify, potentially driving prices toward $0.68. However, a rebound above $0.75 could attract fresh buying interest. The oversold RSI suggests a potential bounce, but the negative CMF indicates limited immediate upside.

Jupiter’s price action reflects a bearish outlook with oversold signals. The increase in trading volume hints at heightened market interest. Traders should monitor the $0.72 support and $0.75 resistance levels for the next potential move.

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