Market
Grayscale’s Inclusion Sparks 10% JUP Price Surge, Uptrend Holds
Jupiter (JUP) price recently surged over 10% following news that Grayscale added the coin to its list of 35 altcoins under consideration for investment. This positive development has driven renewed interest in JUP, sparking an uptrend in the market.
While some metrics point to continued strength, others suggest that the uptrend may face challenges ahead. Let’s explore these indicators to understand what might be next for JUP.
JUP Current Uptrend Is Very Strong
The recent news from Grayscale has resulted in JUP’s Average Directional Index (ADX) jumping to 39.76. The ADX is a measure of trend strength, with values above 25 typically indicating a strong trend in the market.
In this case, a value near 40 is substantial and signifies that the current price trend has significant momentum. Importantly, ADX itself does not indicate the direction of the trend — it simply shows how strong it is.
Given the recent upward price action and the ADX value, it is clear that the trend pushing JUP higher is gathering force. Such an ADX reading gives traders confidence that the trend is not weakening, suggesting that the recent surge may continue.
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When analyzing the Directional Movement Index (DMI) chart for JUP, the D+ line stands at 37.99, while the D- is at 10.69. The DMI consists of two components, the positive directional indicator (D+) and the negative directional indicator (D-), which help in identifying whether buyers or sellers have the upper hand.
In JUP’s case, a D+ of 37.99 compared to a D- of 10.69 shows that buyers are dominating the market. A higher D+ means that upward pressure significantly outweighs downward pressure, reflecting strong bullish sentiment. The combination of a high ADX value and the considerable difference between D+ and D- suggests that the current uptrend is strong and likely to persist.
This setup indicates that JUP has the potential for further price growth, as buyers maintain a solid advantage over sellers, driving continued positive momentum.
This Metric Shows The Party Could Be Over Soon
On the other hand, JUP’s BBTrend is currently at 3.38, reflecting a relatively subdued level of momentum compared to recent highs. The BBTrend indicator has been hovering around this value for the last few days, showing a significant drop from the level of 13 that it reached at the end of September when JUP experienced a price spike.
This decline suggests that while the current price movement is positive, it may lack the intensity seen during the previous rally. The contrast between the current BBTrend reading and the peak in late September reveals that momentum has somewhat cooled off since the earlier spike, indicating a potential weakening in bullish strength.
BBTrend, or Bollinger Bands Trend, is a metric used to gauge the strength and direction of price movements in relation to the Bollinger Bands. It essentially measures the price’s position relative to the band and can indicate whether an asset is experiencing a strong trend or volatility.
A higher BBTrend value suggests that the price is actively moving toward the outer bands, implying strong momentum and significant price volatility.
Although the Directional Movement Index (DMI) and ADX indicate that the current uptrend is strong for JUP, the relatively low BBTrend value raises questions about the sustainability of this trend. It hints that while the price direction is decisively upward, the volume and overall market enthusiasm may not be sufficient to maintain the same level of strength going forward.
This divergence between strong trend indicators and a moderate BBTrend suggests that the current trend could face challenges, especially if the buying volume does not pick up.
JUP Price Prediction: Is It Set To Be Back to $1.22 Soon?
JUP’s shorter Exponential Moving Average (EMA) lines have recently crossed above the longer-term EMA lines, which is often considered a bullish signal. This type of crossover indicates a shift in momentum where recent price movements are outpacing the average price over a longer period, suggesting that buyers are stepping in and gaining strength.
However, one short-term EMA line is still attempting to cross above the longer-term ones, indicating that while the bullish trend is forming, it has not yet fully matured. The full crossover of all short-term EMA lines above the longer-term ones would further solidify the bullish sentiment and confirm the presence of a strong upward trend.
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EMA lines are a type of moving average that gives more weight to recent price data, making them particularly responsive to the latest price changes. Traders often use EMA crossovers to identify shifts in market trends. When shorter EMAs cross above longer ones, it is typically interpreted as a signal that momentum is turning positive and a potential rally could be on the way.
If JUP’s remaining short-term EMA line also crosses above the long-term lines, it would likely strengthen the existing uptrend, paving the way for JUP to test key resistance levels at $0.96 and $1. Should the momentum be strong enough, JUP price could potentially target $1.22, which would represent a substantial 38% price surge.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Ethereum price started a fresh increase above the $3,220 zone. ETH is rising and aiming for more gains above the $3,350 resistance.
- Ethereum started a fresh increase above the $3,220 and $3,300 levels.
- The price is trading above $3,250 and the 100-hourly Simple Moving Average.
- There is a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could gain bullish momentum if it clears the $3,385 resistance zone.
Ethereum Price Regains Traction
Ethereum price remained supported above $3,000 and started a fresh increase like Bitcoin. ETH gained pace for a move above the $3,150 and $3,220 resistance levels.
The bulls pumped the price above the $3,300 level. It gained over 10% and traded as high as $3,387. It is now consolidating gains above the 23.6% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high.
Ethereum price is now trading above $3,220 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,350 level. There is also a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD.
The first major resistance is near the $3,385 level. The main resistance is now forming near $3,420. A clear move above the $3,420 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,880.
Another Decline In ETH?
If Ethereum fails to clear the $3,350 resistance, it could start another decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250 zone.
A clear move below the $3,250 support might push the price toward $3,220 or the 50% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high. Any more losses might send the price toward the $3,150 support level in the near term. The next key support sits at $3,050.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $3,250
Major Resistance Level – $3,385
Ethereum price started a fresh increase above the $3,220 zone. ETH is rising and aiming for more gains above the $3,350 resistance.
- Ethereum started a fresh increase above the $3,220 and $3,300 levels.
- The price is trading above $3,250 and the 100-hourly Simple Moving Average.
- There is a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could gain bullish momentum if it clears the $3,385 resistance zone.
Ethereum Price Regains Traction
Ethereum price remained supported above $3,000 and started a fresh increase like Bitcoin. ETH gained pace for a move above the $3,150 and $3,220 resistance levels.
The bulls pumped the price above the $3,300 level. It gained over 10% and traded as high as $3,387. It is now consolidating gains above the 23.6% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high.
Ethereum price is now trading above $3,220 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,350 level. There is also a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD.
The first major resistance is near the $3,385 level. The main resistance is now forming near $3,420. A clear move above the $3,420 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,880.
Another Decline In ETH?
If Ethereum fails to clear the $3,350 resistance, it could start another decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250 zone.
A clear move below the $3,250 support might push the price toward $3,220 or the 50% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high. Any more losses might send the price toward the $3,150 support level in the near term. The next key support sits at $3,050.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $3,250
Major Resistance Level – $3,385
GOAT price has skyrocketed 214.29% in one month, recently breaking into the $1 billion market cap and securing its place as the 10th largest meme coin. It now stands just ahead of MOG, which closely trails its position in the rankings.
However, recent indicators suggest that GOAT’s uptrend may be weakening, raising questions about whether it can sustain its rally or face a potential correction.
GOAT BBTrend Is Negative For The First Time In 4 Days
GOAT BBTrend has turned negative for the first time since November 17, now sitting at -0.54. This shift suggests that bearish momentum is beginning to take hold, with the asset’s recent upward trajectory starting to weaken potentially.
BBTrend measures the strength and direction of price trends using Bollinger Bands, with positive values indicating an uptrend and negative values signaling a downtrend. A negative BBTrend reflects increased downward pressure, which could indicate the start of a broader market shift.
GOAT has had an impressive November, gaining 61% and reaching a new all-time high on November 17.
However, the current negative BBTrend, if it persists and grows, could signal the potential for further bearish momentum.
GOAT Is In A Neutral Zone
GOAT’s RSI has dropped to 52, down from over 70 a few days ago when it reached its all-time high. This decline indicates that buying momentum has cooled off, and the market has moved out of the overbought zone.
The drop suggests a shift toward a more neutral sentiment as traders consolidate gains and the strong bullish pressure seen earlier subsides.
RSI measures the strength and velocity of price changes, with values above 70 indicating overbought conditions and below 30 signaling oversold levels. At 52, GOAT’s RSI is in a neutral zone, neither signaling strong bullish nor bearish momentum.
This could mean the current uptrend is losing strength, and the price may consolidate or move sideways unless renewed buying pressure reignites upward momentum.
GOAT Price Prediction: A New Surge Until $1.50?
If GOAT current uptrend regains strength, it could retest its all-time high of $1.37, establishing its market cap above $1 billion, a fundamental threshold for being among the biggest meme coins in the market today.
Breaking above this level could pave the way for further gains, potentially reaching the next thresholds at $1.40 or even $1.50, signaling renewed bullish momentum and market confidence.
However, as shown by indicators like RSI and BBTrend, the uptrend may be losing steam. If a downtrend emerges, GOAT price could test its nearest support zones at $0.80 and $0.69.
Should these levels fail to hold, the price could fall further, potentially reaching $0.419, putting its position in the top 10 ranking of biggest meme coins at risk.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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