Two of the Solana ecosystem’s top tokens, Jupiter (JUP) and Raydium (RAY), have seen steep declines recently but have held crucial support levels and are already showing signs of recovery. Could a new rally be on the horizon? Like this post and follow along for the analysis! 👇
Jupiter (JUP): Could a Breakout Be Near?
JUP has been trading inside a descending triangle for months, with support at $0.67 being tested again this week. The good news? Support held, and $JUP has already bounced back, now trading near $0.75.
If buyers maintain control, the token could test the 25-week Simple Moving Average (SMA). A breakout of this level could take $JUP to $1.10 – $1.20, confirming a bullish reversal!
Raydium (RAY): Hidden Opportunity?
RAY is trading inside a broadening ascending wedge, a pattern that often signals volatility. After being rejected at $8.67, the price retreated to $4.31, where it found strong support.
Immediate resistance is at the 100-day SMA. If $RAY can break it, it could target the upper resistance of the wedge, paving the way for a rally of over 100%!
What to expect now?
Both JUP and RAY are at critical junctures. Breaking resistance could drive new highs, but the market still requires caution. Traders should keep an eye on volumes and confirmations before expecting a surge!
And you, do you think JUP and RAY will explode in the next few weeks? Leave your opinion in the comments! 👇
Source: CoinsProbe
Disclaimer: This content is not investment advice. Please do your own research and be fully informed before making any decisions.
