Can Jupiter (JUP) Price Head For a Recovery?

Jupiter price has bounced back from the recent demand and monthly lows of $0.69 level indicating the presence of bulls near the support.

After hitting monthly lows of $0.69, indicating strong support from bulls, Jupiter’s price bounced back nearly 10%. The volume to market cap ratio at 15.93% suggests high volatility.

Moreover, on-chain data shows a recovery in positive sentiment, with the weighted sentiment curve turning bullish.

Furthermore, the daily chart shows a range-bound trend between $0.7 and $1.18. A breakout above $1.18 could signal a bullish continuation.

The MACD line and signal line convergence suggests a potential bullish crossover, indicating positive momentum. On the higher side, Jupiter price has room to rise to $1.18, a 40% potential increase.

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