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Jupiter price has risen 28% in the last 24 hours to trade at $0.006871 starting at 2:30 am EST.
Jupiter Price Prediction
If we look at a 15-minute depth JUP/USDT, the price seems to have been trending down until recently, where it shows a reversal, rising towards the mid-band. The divergence of the bands before this suggests that volatility is increasing with the recent price movement.
The price has just crossed above the 20 Bollinger Band SMA, which could be interpreted as a bullish signal if the price stays above the SMA line. On the other hand, the Relative Strength Index (RSI) is around 62, slightly above the midpoint of 50. This indicates increasing momentum on the part of the buyer. However, it is not yet in the overbought region (above 70), suggesting that there may still be room for an upward move in Jupiter price before the asset goes into overbought.
Furthermore, the moving average convergence divergence (MACD) line (blue) is above the signal line (orange), indicating bullish momentum. The histogram shows green bars increasing in height, reinforcing the bullish outlook. The average directional index (ADX) is at 29.64, suggesting moderate uptrend strength.
Jupiter Price Prediction: What are the chances of a reversal?
Based on these indicators, the current short-term technical analysis suggests that the market has bullish momentum. However, the Relative Strength Index is above 50 but just below the overbought threshold of 70. If the RSI were to rise above 70, it could suggest that the asset is becoming overbought and a reversal could occur.
The ADX is below 30 as it heads south, suggesting that the current trend is not very strong. The declining ADX could indicate that the trend is weakening, which could precede a trend reversal.
JUP/USDT 15-minute chart | Fountain: crypto%3ABTCUSD”>TradingView
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