JUP$ Analysis Today
There are some important pieces of information about JUP that can be used in the analysis. The first point is that the current trend of the analysis is neutral. In addition, we can notice that the ratio of long to short positions on #Binance $ is 4.6:1, which indicates that traders prefer long positions. We can also observe the current funding rate which is 0.00000422, which indicates the strength of the long side of the market.
• Based on the available information, we can suggest three suitable trading strategies for JUP$.
1. Directional follow-up strategy:
-The direction is neutral.
- Entry Price: When the price of JUP exceeds the upper resistance level of ($0.7853) BOLL, a buy trade can be entered.
- Target price The target can be set at $0.8365 (next resistance for BOLL)
• Stop Loss: In case the price reverses and breaks the level.
- Lower support of ($0.7231) BOLL, the trade should be closed at a loss.
2. Resistance Breakout Strategy:
- Neutral direction
• Entry Price: When the price of JUP crosses the upper resistance level of BOLL ($0.7853), a buy trade can be entered. Target Price: The target can be set at the next resistance level of BOLL ($0.8365).
• Stop Loss In case the price reverses and breaks the lower support level of (0.7231$ BOLL, the trade should be closed at a loss.
3 Range Trading Strategy:
- Neutral direction
• Entry Price: When JUP price is trading between the lower support level of (0.7231$ BOLL) and the upper resistance level of (0.7853), buy trades can be opened at the support.
Sell trades at resistance. Target price The target can be set at the next support or resistance level, depending on the trend.
Stop Loss Stop loss can be set near the broken support or resistance level.
* These strategies are based on support levels.
and resistance to BOLL, and takes advantage of the current neutral market trend. Entry, target and stop loss price can be determined based on these levels.
*Traders should carefully monitor price action and close trades if price reversals and breaks defined support or resistance levels.
• Please note that there may be fluctuations in prices and trends, so additional analysis and careful risk management should be undertaken before making any trading decisions.