Jupiter’s token unlock lands today, but rising demand and bullish signals may push JUP toward new highs.
Share
Key Takeaways
JUP broke out of both 4-hour and daily falling channels, with strong indicators like CMF, AO, and BBP.
Rising trading volume and a positive CMF reading support continued upside despite today’s token unlock.
Key resistance lies at $0.74, with potential upside to $0.87 and $1; invalidation could drag the price to $0.30.
JUP, the native token of Solana-based decentralized exchange Jupiter, has increased by 42% within the past month. Today, the project is set to unlock 53.47 million tokens, valued at $32 million.
But unlike other unlocks, which lead to a correction, the Jupiter crypto price might defy it and trade higher. Here is why.
Jupiter Tames Token Unlock
According to Tokenomist, Jupiter’s token unlock today accounts for 1.78% of its circulating supply. While that may seem modest, even small unlocks can introduce short-term volatility.
However, the market sentiment does not seem fragile enough to drag the Jupiter crypt price down. One reason for this is JUP’s trading volume.
Over the weekend, JUP’s volume was less than $40 million. But as of this writing, the same volume has increased to $136.61 million.
Try Our Recommended Crypto Exchanges
Sponsored
Disclosure
We sometimes use affiliate links in our content, when clicking on those we might receive a commission at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy.
The rise in volume indicates strong market interest in the altcoin. From a trading perspective, this rise in JUP’s market value to $0.61, alongside the increase in trading volume, is a bullish sign.
Therefore, once the newly released tokens enter circulation, there seems to be enough demand to absorb the supply. Should this trend remain the same, JUP’s price might break higher.
Beyond the rise in volume, the 4-hour chart shows that JUP’s price has broken above a descending channel. This breakout indicates that bulls are in control of the price action.
Hence, the Jupiter crypto value is likely to surge toward $1. The Chaikin Money Flow (CMF) has risen above the zero signal line.
The rise above the signal line indicates intense buying pressure that could prevent JUP from making a notable correction. The Awesome Oscillator (AO) also seems to support amid rising green histogram bars.
If the AO does not drop to the negative region, the JUP’s price might surge much higher than $0.61.
Like the 4-hour setup, the daily chart shows that JUP’s price has broken out of a falling channel. During the breakout, we also looked at the Bull Bear Power (BBP).
As seen below, the BBP is above the zero line. This indicates that the buyers are dominant and sellers are on the back foot.
Should this remain the same, the Jupiter crypto price might break the resistance at $0.74. In that case, the next target could be a 45% increase from the current level, meaning JUP might hit $0.87.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
