$JUP /USDT – BULLISH BOUNCE FROM THE BOTTOM, BUT IS IT A DEAD CAT OR A REAL MOVE?
$JUP /USDT has posted a strong intraday recovery, gaining +5.89% and trading at $0.4299. This short-term upside move follows a steep downtrend over the past few months, suggesting a potential relief rally or short squeeze in play.
Key Technical Levels:
Current Price: $0.4299
Immediate Resistance: $0.4342 (24h high)
Major Resistance Zone: $0.4450 – $0.4600
Immediate Support: $0.4200
Stronger Support Zone: $0.4000 – $0.4080
Price is trying to break above local resistance. Sustained strength above $0.4342 could trigger further momentum, but caution is advised due to the larger downtrend.
Trade Setup – SHORT-TERM LONG (Scalp to Swing)
Entry: On breakout above $0.4342
Target 1 (TP1): $0.4450
Target 2 (TP2): $0.4590
Stop Loss (SL): $0.4180
Alternate Strategy: Look for a dip toward $0.4080 – $0.4150 for a lower-risk long re-entry with the same upside targets.
Market Outlook:
Despite today’s bounce, JUP has been in a clear long-term downtrend with major losses in the past 30–180 days (-60.76% in 180D). This move could be short-lived unless volume increases and price breaks above $0.46. Traders should watch for bullish continuation or signs of rejection near resistance.
Risk Management:
Use strict SL. Risk only 1–1.5% of your capital. Don’t hold long if price gets rejected near $0.4450 with heavy selling.
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