Jupiter (JUP) Price Retests Resistance as Support — Bounce Could Spark Bullish Shift

Key Takeaways

• Price completed a WXY correction at 0.786 Fib support.
• Early 5-wave impulsive structure seen on 1H chart.
• A bullish breakout requires reclaiming the $0.429 resistance.

Jupiter (JUP) appears to have completed a major corrective phase and may be preparing for a bullish, impulsive structure.

The 4-hour chart shows signs of bottoming after a prolonged downtrend, while the 1-hour chart suggests the beginning of a new five-wave impulse.

This analysis will explore timeframes to assess the current setup and forecast potential targets.

JUP Price Analysis

JUP has been in a correction since peaking near $1.86 in April 2024. After a lower high of $1.42 in December, the price started forming its second downtrend

A descending channel was formed, likely completing a prolonged WXY correction. It reached a low of $0.30 on April 7, which could have concluded the descending structure.

Since then, we saw a recovery, leading to a breakout above the descending resistance. This aligns with the 0.786 Fibonacci retracement level at $0.429 from the major rally.

Currently, the price is experiencing a pullback as it likely retests the broken resistance for support.

The Relative Strength Index (RSI) indicator on the 4H timeframe shows a bullish divergence forming as the price made a lower low while the RSI made a higher low.

This typically signals weakening bearish momentum, but the RSI has more room to go down the downside before reaching the oversold zone.

A confirmed breakout above the 0.4296 resistance (Fib 0.786) would validate the start of a larger bullish wave sequence.

JUP Price Prediction

The lower timeframe (1H) suggests a completed fice-wave impulsive structure (i)-(v), followed by an ABC corrective wave 2, which seems to be ending around $0.355.

The structure indicates Wave 2 may have bottomed, paving the way for Wave 3.

Fibonacci extensions project key levels for the next impulsive wave.

Wave 3 could extend toward $0.5484 (a 1.618 extension of wave 1), while wave five may reach up to $0.5941, completing a full impulse structure.

To confirm this bullish scenario, the price must hold above $0.30 and break above minor resistances at $0.383 and $0.414.

The RSI is hovering near oversold levels, which suggests an upcoming bounce.

If wave (ii) extends further down, invalidation will occur below $0.30, potentially re-entering a bearish continuation to a lower low.

A bullish reversal scenario is more likely at this stage, but overall, JUP is still in a downtrend on the higher timeframe.

This is why the next move is detrimental to determining the price outlook.

Key Levels to Watch

• Major Support: $0.355 (previous low), $0.340 (invalidation level).
• Immediate Resistance: $0.383 (0.236 Fib), $0.4148 (0.5 Fib), $0.4296 (0.786 Fib).
• Breakout Confirmation: Sustained move above $0.4296 with volume.
• Invalidation Level: A break below $0.340 would negate a bullish count.
• Fractal Watch Zone: $0.474–$0.548 (wave iii zone), $0.594 (wave v target).