Market Overview for Jupiter/Tether (JUPUSDT) on 2025-10-22

• JUP/USDT declined to 0.3480 in 24 hours, with a low of 0.3482 and a high of 0.3749.
• Volume spiked at 726,632.5 (18:00 ET) and 224,269.5 (05:00 ET), signaling key turning points.
• A bearish engulfing pattern formed around 0.3672–0.3696, followed by a pullback.
• RSI reached 35, suggesting oversold territory but no strong bounce.
• Price traded within a 1.33% range near 0.3520–0.3580, indicating a potential consolidation phase.

Price Activity and Structure

Jupiter/Tether (JUPUSDT) opened at 0.3692 (12:00 ET-1) and reached a high of 0.3749 before declining to a 24-hour low of 0.3482. The pair closed at 0.3542 (12:00 ET), marking a 5.2% drop. Total volume amounted to 9,348,432.7 units, with a notional turnover of approximately $3,245,697.16 based on average prices. The price action featured multiple bearish reversal patterns, including a key engulfing pattern around 0.3672–0.3696 and a sharp pullback after a morning rebound.

Key Support and Resistance

The 0.3520–0.3580 range has emerged as a critical consolidation band, with 0.3533 and 0.3550 serving as immediate support and resistance levels. A breakdown below 0.3500 would target 0.3450–0.3480, with 0.3480 as a potential short-term floor. On the upside, the 0.3580–0.3600 range could act as a near-term ceiling. A bearish engulfing pattern observed around 19:30 ET (0.3672–0.3696) suggests a potential continuation of the downtrend.

Momentum and Volatility

Relative Strength Index (RSI) has settled in the 35–40 range, indicating oversold conditions without a strong bounce. This suggests that selling pressure may still be present. The MACD line remained below the signal line for most of the session, reinforcing bearish momentum. Volatility, as measured by the Bollinger Bands, widened during the early morning hours, reflecting heightened uncertainty. Price has since retracted into a narrower band, suggesting a potential pause in momentum.

Backtest Hypothesis

A backtest can be conducted by scanning the JUPUSDT 15-minute OHLCV data for Bearish-Engulfing patterns, where a bearish candle fully engulfs the previous bullish candle. Once identified, each pattern day could serve as an entry point (at close), and the next day’s close could serve as the exit. This strategy would help quantify the effectiveness of such patterns in JUP’s price behavior, despite the lack of prebuilt pattern signals from the data provider. As a new token, JUP may not be covered by standard pattern libraries, but ad-hoc processing of OHLC data can still yield meaningful insights. If this approach is taken, we can calculate performance metrics such as win rate, average return, and maximum drawdown to evaluate the strategy’s viability.