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Summary
• JUPUSDT formed a bearish engulfing pattern at 0.2441, suggesting a reversal in momentum.
• Price broke below key support at 0.2367, with 0.2343 now a critical level.
• Volume spiked during the 18:30–19:00 ET range, confirming the breakdown.
• RSI dipped into oversold territory below 30, indicating potential for a short-term rebound.
• Volatility remained high as price traded within expanding Bollinger Bands.
The breakdown below 0.2367 marked a critical support breach, forming a bearish continuation pattern. A bearish engulfing candle appeared at 0.2441, confirming the shift in control to sellers. The price then consolidated around 0.2343, a key Fibonacci level, before continuing lower.
JUPUSDT may test the 0.2243 level before finding a near-term bottom, with a potential pullback to 0.2315–0.2325 possible. Traders should monitor volume and RSI for signs of a reversal, but bearish momentum appears to have the upper hand for now.
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