Jupiter Price Nears Critical Resistance Zone at $0.50 to $0.52

Jupiter (JUP) has been under close scrutiny as traders speculate whether its prolonged downtrend might finally be coming to an end. After experiencing a series of lower highs and consistent declines, the price of JUP is now approaching a critical resistance zone that could determine its next direction.

Veteran analyst Crypto Rand has highlighted that the current price movements could indicate the beginning of a more significant bullish trend, but this will only be confirmed if certain key levels are surpassed.

Examining the weekly chart, JUP's price has been trapped beneath a falling trendline since January 2024. This downtrend began after the price failed to maintain its position above the $1.00 mark and continued to decline. There were several attempts at recovery, but none were sustained for long.

Recently, Jupiter's price has managed to rise above this long-standing diagonal resistance, which is a positive development. However, the true test lies ahead. Currently, JUP is struggling to break through the $0.50 to $0.52 range, an area that has previously thwarted rally attempts. Many traders believe that if JUP can close above this range, it could be the first genuine indication that the bearish trend is reversing.

Technical levels provide a clear short-term roadmap for JUP. The horizontal resistance between $0.50 and $0.52 remains the near-term target for bulls. This band has previously capped rally attempts, and further resistance may emerge around the $0.70 range, followed by a major ceiling near the $1.00 mark. On the downside, support appears to be holding in the $0.34 to $0.36 region, which has been tested multiple times since May. If the current breakout attempt fails, JUP may revisit these levels, with deeper support existing closer to $0.30.

Beyond price movements, trading activity and protocol usage are crucial metrics to monitor. JUP recently surpassed the combined 24-hour aggregator volume of several major platforms, marking a rise in user activity and positioning Jupiter among the top-performing aggregators by volume. A confirmed recovery of the $0.50 support level would indicate a shift in the market structure of JUP's price, validating the breakout and signaling renewed strength. Without this confirmation, the token remains susceptible to another retracement. Traders are closely watching this area as a potential pivot for trend continuation or reversal.