The Jupiter price has risen by 8% in the past 24 hours, with its move to $1.01 coming as the wider crypto market gains by a more modest 2.5% today.
This means that JUP is basically flat in a week, but down by 3% in a fortnight and by 40% in a month.
The DeFi utility token is also down by 49% since reaching an all-time high of $2 on January 31 of this year.
However, this slippage arguably means that the coin is ready to rebound in a big way, with today’s jump potentially the beginning of a significant rally.
Jupiter Price Prediction as JUP Gains 8% Overnight — Is It Time to Load Up?
What’s interesting about JUP’s chart is that the coin had been in a weak position in recent days and weeks, but its indicators now suggest that it’s making a return.
This is particularly noticeable with the coin’s 30-day average (orange), which is on the brink of overtaking its 200-day (blue), a move which typically indicates a breakout.
Source: TradingView
At the same time, JUP’s relative strength index (purple) has finally risen above 60 today.
While it has dipped in the past few hours it’s likely to rebound soon, given that it had already spent so long below 50 over the past week.
It’s also encouraging that the coin’s trading volume has risen from $70 million a few days ago to $140 million today.
❯ $JUP was in the accumulation zone for 28 days, and on the 29th started pumping, with news about staking.$W was in accumulation zone for 31 day and on the 32nd started pumping without any news!
❯ From the lowest price $W up to +65%.
Now, if you want to be in top stakers,… pic.twitter.com/4VEBaUkibW
— Jussy.Sol (@jussy_world) May 2, 2024
This indicates rising interest in the token, and because volumes had been low for several weeks, it’s possible that today is the beginning of a sustained increase.
One of the fundamental reasons for JUP’s gains over the past couple of days is that Jupiter recently announced the launch of a new liquid staking token, JupSOL.
The high yields offered by this token have driven investors to Jupiter, with the latest data now showing that the latter is the biggest DEX in the market in terms of unique active wallets.
Such growth is likely to push the Jupiter price higher in the medium- and long-term, especially as and when rate cuts arrive and help the wider market rally.
JUP could possibly hit $1.30 by the end of the summer, before returning to its ATH by the end of 2024.
Diversification into Low-Cap Alts for Big Gains
While JUP is an exciting prospect right now, it isn’t the only alt in the market with strong potential for big gains in the near and more distant future.
We’re also seeing a wide variety of presale tokens that have been raising large sums on the basis of having solid fundamentals and communities.
And one of the hottest at the moment is Sealana (SEAL), a Solana-based meme coin which launched its token offering only this week.
It has already raised just over $140,000, with this total only likely to accelerate as word spreads about the project.
Source: sealana.io
Sealana has chosen the seal as its meme, albeit an anthropomorphic seal that likes to trade crypto and make enough money to not have to work.
It already seems that its stylings are attracting investors, with SEAL on course to become the latest Solana meme token to outperform much of the market.
While additional details about the project will emerge in due course, traders can already join its presale by going to the official Sealana website.
There, they can send SOL to the following address: DJ15ZYXqUNMYJ3hL7z4ciSaSFAw5cbos3YjGpdvwmF6c.
They can currently buy Sealana at an exchange rate of 1 SOL for 6,900 SEAL, which converts to around $0.02 at today’s prices.
Send SOL to – DJ15ZYXqUNMYJ3hL7z4ciSaSFAw5cbos3YjGpdvwmF6c
Or, purchase through the https://t.co/uKsMoz55L2 #Presale website!
— Sealana (@Sealana_Token) May 1, 2024
Given what we’ve seen from other Solana-based meme tokens this year (e.g. WIF), SEAL could surge well beyond this price once it lists in the next few weeks.
Buyers will receive their tokens via an airdrop, once the sale ends, at which point they will be able to sell (or hold) and make some potentially large profits.
Buy SEAL Today
The post Jupiter Price Prediction as JUP Gains 8% Overnight — Is It Time to Load Up? appeared first on Cryptonews.
