An amazing 84.42% 30-day increase ensured that Jupiter[JUP], the token developed in the Solana [SOL] blockchain, almost hit $1. On the 14th
Social volume increased, indicating that traders might consider being bullish.blockchain, almost hit $1. On the 14th of March, JUP broke out, and rallied to $0.97. This value meant that the cryptocurrency hit a new All-Time High .
Therefore, the recent breakout suggest that buyers and sellers are agreeing that the true value of the asset should be higher. Though the cryptocurrency’s performance was impressive, being in price discovery meant it could break the new ATH within a short period. At the same time, the display indicated by the Bollinger Bands , revealed that selling pressure could force a significant correction.As of this writing, the A/D had decreased, suggesting that traders were booking profits. If this continues, JUP’s price might slip below $0.90. However, Open Interest around the cryptocurrency climbed to $52.10 million.
If the buying pressure continues, the price of the cryptocurrency might break through the $1 mark. Another factor that could play a role in JUP’s performance is SOL.with the Solana native token. Therefore, it is likely that a price pump for SOL might lead to surge in the price of JUP.
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