Jupiter (JUP) could surge 35% and reach 0.55 dollars if this happens.

In the past week, Jupiter (JUP), a blockchain project operating on the Solana platform, has drawn attention from the crypto community thanks to an impressive increase of up to 30%. This strong growth momentum not only opens up opportunities for continuous bullish trends but also attracts the participation of numerous traders who are betting on the bullish trend of this token.

At the time of the press release, JUP was trading near $0.44, recording a bullish increase of 7% in the past 24 hours. This indicates strong interest from traders in this token, leading to a significant increase in trading volume, up to 10%.

Reasons for JUP bullish

According to experts, the main factor driving the growth of JUP is the significant increase in trading volume on the Jupiter DEX platform. On June 22, Jupiter DEX released an impressive report indicating that the trading volume of the exchange had exceeded 1 trillion USD with 1.7 billion transactions.

This not only demonstrates the strong development of Jupiter in the DeFi ecosystem but also helps this platform achieve a milestone of 1 trillion USD in transactions, marking an important turning point in the process of building revenue and reputation in the market. According to data from DeFiLlama, Jupiter DEX has generated a total revenue of 300 thousand USD in the past 24 hours, raising the total revenue of this protocol to 200.75 million USD.

Source: DeFiLlamaThe remarkable development in trading volume has brought significant revenue to Jupiter, demonstrating that this platform is increasingly influential in the DeFi space. The revenue growth also reflects the community's trust in the long-term potential of Jupiter.

Price Action and Key Technical Levels

Based on recent technical analysis, JUP seems to be on a strong upward trajectory and could witness a significant bullish surge in the near future. The daily chart shows that JUP has just broken out of a downtrend line, while simultaneously forming a bullish "inverse head and shoulders" pattern, which opens up the possibility of a strong breakout.

If JUP can maintain its bullish momentum above the 0.43 USD ( neckline of the pattern), the likelihood of the price continuing to surge to the 0.55–0.59 USD range is very high. This price pattern indicates a bullish trend for JUP and opens up the prospect of strong growth in the near future.

A noteworthy signal is that the MACD has crossed above the signal line after a strong bullish trend. The MACD bars have also turned green and are increasing in size, indicating strong bullish momentum and potential for expansion in the coming days.

Source: TradingViewAccording to data from CoinGlass, the market sentiment towards JUP is currently very bullish. Traders are aggressively betting on the bullish trend and actively opening Long positions. The JUP liquidation map shows that at key price levels of 0.391 USD (support) and 0.446 USD (resistance), traders have built Long positions worth up to 2.17 million USD, while Short positions only reached 612,000 USD. This reflects a clear dominance of the buying side, opening up the possibility of continuing to lead the market upwards in the near future.

Source: CoinGlassWith a strong increase in trading volume, impressive revenue, and signals from technical indicators, Jupiter (JUP) is showing great growth potential in the near future. If this bullish trend continues and the technical factors remain, JUP may continue to reach new higher price levels, opening up great opportunities for traders and investors to participate in this project.

Justin