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In the last 30 days, the altcoin Jupiter (JUP) has caught the eye with an increase of over 150%, drawing attention in the cryptocurrency market. Despite the general slowdown in the crypto market and some controversies, JUP’s performance continues to gain momentum. So, what levels should be watched for JUP coin in the next period?
Striking Commentary for JUP Coin
In a post about altcoin JUP, renowned crypto analyst Altcoin Sherpa made a striking commentary about its recent performance. The analyst shared JUP’s price chart, indicating that the token has been moving horizontally between $1.12 and $1.47 over the past few days. The chart points to the beginning of a consolidation phase after testing the $1.50 resistance level on March 16th.
JUP briefly reached $1.60 on March 18th when it retested the resistance zone but failed to maintain this level and fell back to $1.20. However, after the recent pullback, JUP is trading between $1.15 and $1.25, which the analyst considers a “good” price consolidation.
The analyst also highlights Bitcoin‘s current stability, suggesting that JUP could repeat its March trajectory. Consequently, the analyst views this point as a “good entry point” for Jupiter (JUP) and maintains a positive stance on the token, indicating it could rise further.
JUP’s Price Movement: Community Discussions and Market Performance
Recently, there has been a notable development within the altcoin JUP Community. Co-founder Meow’s controversial decision to donate SLERF limit order and DCA fees to the token’s pre-sale participants caused concerns within the community.
Meow’s decision, made without consulting the community, which is an important part of the project, drew criticism. However, Meow stated that “no JUP tokens were included in the donation and despite discussions within the community, JUP’s price was not affected.”
On the other hand, Bitcoin’s stable performance over the weekend is noteworthy. JUP closely followed BTC‘s trajectory throughout the past week, which is significant as the Solana-based token was observed to mimic the movements of the flagship cryptocurrency.
JUP Trading Volume
In the last 24 hours, Jupiter’s trading volume increased by 64.1%, reaching $214.7 million. Altcoin JUP’s market value rose by 8.5% the previous day, positioning the token as the 65th largest cryptocurrency by this measure with a market cap of $1.77 billion.
Despite a negative performance of -3.5% over the past week, the token showed a significant price increase of 71.8% over a two-week period. At the time of writing, altcoin JUP is trading at $1.39, up 13.2% in the last 24 hours.
