Jup price forecast: Analyst says that it could reflect sol

• The JUP Prize has tested an important resistance line again after increasing over $ 1.
• The crypto analyst Rekt Capital assumes that holding over the level of support will help the bulls to an upswing.

During the Solana Prize to over 240 US dollars and approaches its all-time high, Jupiter (JUP) could follow this example, says the crypto analyst Rekt Capital.

The native Token of the decentralized Exchange aggregator (Dex), which is considered an important ecosystem player for Solana, attracts attention due to its potential.

"Jupiter was able to successfully test the previous resistance area (red) and convert it into a new support. In fact, Jup also conducted a volatile downturn to the multi -month resistance of the blue diagonal. Here the stability remains and Jup could follow", says the analyst wrote on x on November 18th.

Here is the diagram divided by the analyst, which indicates possible levels of support for JUP in the weekly time frame.

JUP weekly price diagram by Rekt Capital

JUP price at key level

Before that, the analyst pointed out that the weekly closing course of JUP is bullish over $ 1.10. Rekt Capital found that the price "showed the first sign of support". said :

"Jup must form a basis here in the red area to enable an increase of over $ 1.29 (black), which must be recaptured for a future trend continuation."

The Altcoin rose to over $ 1.30 on November 17, reaching maximum stalls that were last recorded in May. While profit from the JUP pressed the JUP to $ 1.20, the mood indicates that a recovery is imminent. At the time of writing this article, JUP floats over the psychological brand of $ 1 after it has recovered from low-levels at $ 1.04 and tested the levels achieved in May.

A breakthrough into the offer zone means that a rally that is carried by a wider market dynamics could lead to buyers striving for the all-time high of $ 2.00 in January 2024.

On the other hand, the rejection could lead to $ 1.30 to press the JUP beyond the primary support area. A retreat below the horizontal support of $ 0.70 will bring the range of $ 0.50 in sight.