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The JUP coin price surged more than 8% in the past 24 hours to trade at $1.28 at press time.
The JUP Price Challenging Resistance
In the latest technical analysis of the JUP coin price on the 4-hour chart, the crypto has shown promising bullish momentum. The recent closing prices indicate a gradual upward movement. This trend is supported by key technical indicators, suggesting potential opportunities for traders.
The 9 EMA (Exponential Moving Average) values alongside the 20 EMA values illustrate a consistent upward trajectory. The convergence of these averages points to a strong bullish trend, signaling potential buying opportunities as the shorter-term EMA remains above the longer-term EMA.
The MACD (Moving Average Convergence Divergence) values further corroborate the bullish outlook. The MACD values highlight increasing positive momentum. Additionally, the widening gap between the MACD line and the signal line suggests growing bullish sentiment.
The RSI (Relative Strength Index) values indicate that the JUP coin price is approaching overbought territory. While this signals strong buying pressure, traders should be cautious of potential pullbacks as the RSI nears the overbought threshold of 70.
Levels to Watch
– Resistance Levels: JUP faces resistance at $1.3219, with further barriers at $1.3526 and $1.3645. A break above these levels could signal a continuation of the bullish trend, providing entry points for long positions.
– Support Levels: On the downside, support levels are identified at $1.29, $1.2767, and $1.2582. Traders looking for short entry points should watch for a break below these levels. This could indicate a reversal or a pullback.
For long trades, potential entry points include a breakout above the $1.3219 resistance level, with exit targets near the next resistance levels of $1.3526 and $1.3645. Conversely, for short trades, entry points could be considered below the support levels at $1.29 and $1.2767, with exits around the next lower support at $1.2582.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Ecoinimist is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
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