Jupiter has fallen 8% in the past 24 hours, trading at $0.4973, with a 30% drop in trading volume to $347 million. The price drop comes as Jupiter launched Sanctum, Sharky, and deBridge as LFG Launchpad candidate projects. Such launches emphasize community-driven decision-making and promote active participation and decentralized autonomous organization (DAO) dynamics.
Solana’s Jupiter DEX aggregator launches three potential projects, including liquid staking service Sanctum, NFT staking platform Sharky, and cross-chain provider deBridge. Community input is crucial; JUP tokens withdrawn from launch pool. Jupiter plans DAO…
After the airdrop, JUP price plummeted and the decline persisted. Jupiter exchange’s native token JUP continued to fall after its listing. Now, the price of JUP is $0.5033.
As Jupiter nears the launch of its DAO initiative, aimed at strengthening governance and incentives, a question arises: can its price recover?
Jupiter price is trading in a descending channel. Jupiter price has been in a downtrend for the past two days, going through a markup phase. The bulls encountered resistance at the $0.6 level, which allowed the bears to take control of the price, pushing the price into the descending channel.
Since the bears were able to break the critical support level of $0.52 and approached the next support level of $0.45, Jupiter price is trading below the 50-day and 200-day simple moving averages (SMAs), which coincides with the overall downtrend in price.
However, the Relative Strength Index (RSI) has rebounded from the oversold territory below 30 at 31 and is heading north. This could be a sign of a potential rebound as bulls use these levels for entries.
Moreover, the Moving Average Convergence Divergence (MACD) line (blue) supports the current trend as it is slightly below the signal line (orange). The lines are almost touching, thus meaning that the price is preparing for a potential rebound. The histogram also shows that the red bars are slightly extending downwards.
The Average Directional Index (ADX) is at 45, which shows a very strong trend and suggests that now is the best time to buy as a bullish reversal is likely.
Jupiter Price Prediction
Jupiter price is currently in a downtrend but there are signs of a breakout at the upper boundary. Bulls are likely to find solid support near the $0.4903 level which will combat the downward pressure and potentially push the price higher to test the $0.54 level.
However, if the bears continue to exert pressure, the price could retrace further to the critical support area of $0.45.
While JUP bulls are looking for entry opportunities, eTukTuk’s pre-sale has surpassed $867,000, approaching the $1 million target, with investors expecting a 10x return.
eTukTuk is an innovative, AI-based transportation solution that aims to change transportation, starting in developing countries and expanding globally. The project uses blockchain technology to create the charging infrastructure of the future.
eTukTuk runs on Binance Smart Chain and leverages a decentralized sharing economy model to enhance scalability, security, and efficiency.
Additionally, eTukTuk offers a cleaner, healthier alternative to traditional internal combustion engine Tuk Tuks, positioning itself as a leader in environmentally friendly electric vehicle charging station infrastructure (EVSE).
You can buy and stake your TUK tokens, which can earn you an impressive annual percentage yield (APY) of 252%. The more you stake, the higher the rewards.
The eTukTuk team will also be launching a game called Crazy Taxi where you will be able to earn TUK tokens by dropping passengers off at different locations on the busy streets of Sri Lanka.
Jacob Bury, a well-known YouTube cryptocurrency analyst, believes that eTukTuk has the potential to grow 10 times when it launches.
There are less than 13 days left in the eTukTuk presale and the price will go up, so act fast if you are interested in buying TUK tokens at the lowest price of $0.0265 per token.
You can purchase TUK tokens by visiting the official eTukTuk website. Exchange TUK tokens using BNB or USDT, or purchase directly with your bank card.
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