Jupiter Tests Key Support at $1,133, Awaits Bullish Breakout

Jupiter, a prominent cryptocurrency, recently tested a critical support zone at $1,133, a level that has historically triggered significant rebounds. This movement marked the conclusion of an extended accumulation phase and indicated a potential shift in market dynamics. The asset faced resistance at $1,500, with its price action confined within a broader range of $1,000 to $1,500.

JUP’s recent price movements have been closely monitored, as they hover near key levels that have previously marked major market shifts. The asset remains in a consolidation phase, with its price fluctuating between crucial support and resistance zones. Investors are keenly observing these price movements for potential breakouts or breakdowns.

On March 11, JUP traded at $1,132, just below this key support level. A breakout above $1,500 could confirm a bullish reversal, potentially setting the stage for a move toward $2,000. Conversely, a drop below $1,000 might drive prices down to $800, resuming the downtrend. The Relative Strength Index (RSI) stood at 40.52, near oversold territory, suggesting a possible rebound.

If JUP sustains above $1,133 and breaks through the resistance, it could replicate previous upward movements. The anchored volume profile indicated strong trader activity around the $1,133 level, reinforcing its importance as a support zone. Historically, JUP has rebounded from this level, reflecting strong market participation. Price action at the time of reporting remained near this volume-heavy zone. A bounce from $1,133 could push prices to $2,000, as past volume trends suggest. However, a breakdown might lead to a decline toward $800, where lower-volume nodes exist. Volume surges above $1,500 could indicate renewed bullish momentum, while fading volume below $1,000 might trigger further selling pressure.

Jupiter’s founder recently announced an upcoming token verification system designed to enhance security and community involvement. This upgrade aims to improve investor confidence, potentially driving adoption. Technological advancements in blockchain projects often lead to significant price increases post-launch. If the new system successfully boosts engagement, prices could target $1,500 or even $2,