Bittime -Jupiter (JUP) has had a great month, with its price skyrocketing over 150% in the last 30 days. In the midst of a slowdown in the crypto market and several controversies, JUP's performance continues to show momentum.
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Crypto Analyst Sees “Good” Entry Point for JUP
JUP started the month at around $0.63 and has seen a 106% price increase in 25 days. The token's performance this month showed sideways price movement before rising to new support levels twice, which could indicate that another price spike is possible despite this volatile week.
Analysis from Altcoin Sherpa
Renowned crypto analyst Altcoin Sherpa, in a post, commented on JUP's recent performance while wondering about the possibility of further price increases.
The analyst shared a JUP price chart, which shows the token's sideways movement in the price range of $1.12-$1.47 over the past few days. The chart shows that the consolidation phase started after the token price surged and failed to cross the $1.50 resistance level on March 16.
After a pullback to the $1.20 level , JUP again tested the resistance zone on March 18 , briefly reaching $1.60 , but ultimately failing to maintain it. After a failed attempt to move up, the price dropped lower to the $1.10 support zone in the following days.
Since then, JUP has bounced back, hovering between the $1.15-$1.25 zone . The recent price consolidation looks "pretty good," according to the analyst.
He further highlighted Bitcoin's current stability, which seemed to suggest to Sherpa that JUP could repeat its trajectory in March.
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Therefore, the analyst considers this moment a “good entry point” for the Jupiter token. Additionally, he has previously expressed positive sentiment towards JUP, calling the token a “winner” that will “keep winning.”
JUP Price Movement
Recently, the JUP Community showed some concern after one of the founders, Meow, announced a controversial decision. Meow revealed that Jupiter will donate SLERF limit orders and DCA fees to token presale participants.
This decision was taken without consulting the community, which is an important part of the project. Following the criticism, Meow explained that "no JUP tokens were involved in the donation and, despite the turmoil within the community, the price of JUP appears to be unaffected."
It is worth noting that Bitcoin price showed signs of stabilization over the weekend, as highlighted by Sherpa. This is important because JUP followed BTC's trajectory closely over the last week. As the graph below shows, this Solana-based token mimics the movements of major cryptocurrencies.
Current Price of Jupiter (JUP).
According to Market Bittime.com, currently (26/03/2024) the price of 1 JUP to IDR is at Rp. 21,852 and over the last 24 hours it has increased +3.22%
Jupiter Trading Volume
In the last 24 hours, Jupiter's trading volume jumped 64.1%, with $214.7 million traded. According to CoinMarketCap data, JUP's market capitalization increased 8.5% in the past day, ranking the token as the 65th largest cryptocurrency by this metric, at $1.77 billion.
Despite a negative performance of 3.5% in the past week, the token saw a significant price increase of 71.8% in a two-week period. At the time of writing, JUP is trading at $1.33, up 13.2% in the past day.
Also Read: Jupiter's Trading Volume Reaches $1.4 Billion After Launching JUP Token
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How to Buy Jupiter (JUP) on Bittime
You can buy and sell Jupiter (JUP) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Jupiter (JUP) is available on Bittime with the market pair JUP/IDR . To be able to buy JUP IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Jupiter (JUP) on Bittime .
Monitor price chart movements of Jupiter (JUP), Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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