Key Takeaways
- JUP broke out of wave (iv) falling wedge.
- RSI divergence suggests bullish momentum is returning.
- Wave (v) targets lie between $0.50 and $0.58.
Jupiter (JUP) has shown a classic corrective structure after a significant rally and is now approaching the conclusion of its correction stage.
Both the higher and lower time frames suggest bullish momentum is preparing to resume.
This analysis outlines the technical structure and potential targets for the next bullish move using Elliott Wave theory and Fibonacci levels.
JUP Price Analysis
The 4-hour chart highlights a descending channel pattern formed on wave Y of a W-X-Y corrective sequence, which appears to have been completed on April 7 at $0.30.
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The downtrend started after the price reached $1.26 on Jan 26 and retraced significantly.
After the corrective structure bottomed, the price bounced at $0.297, breaking out of the descending channel structure on April 12 at $0.38.
The price found resistance at the 0.236 Fib level at $0.5258 and is currently consolidating around $0.43.
The 4-hour Relative Strength Index (RSI) shows bullish divergence at the recent low, suggesting a weakening of bearish momentum.
This divergence and the breakout from the descending channel pattern reinforce the possibility of a trend reversal.
The major resistance levels remain at $0.5258 (0.236 Fib), $0.666 (0.382 Fib), and $0.78 (0.5 Fib).
Any move above these zones will significantly establish a longer-term bullish breakout.
Overall, the macro structure remains corrective, but momentum is shifting.
JUP Price Prediction
On the 1-hour chart, wave (iv) has taken the form of a descending channel and completed an (a)-(b)-(c) correction.
A breakout is expected to signal the beginning of wave (v).
The bounce came from the $0.42 area, where strong RSI divergence developed across multiple lows.
Wave (iii) previously peaked near $0.525 and the Fibonacci extensions project wave (v) toward $0.58 (1.0 Fib extension), with intermediate resistances at $0.50 (0.5 Fib) and $0.545 (0.786 Fib).
A bullish continuation scenario assumes JUP reclaims $0.457 (0.236 Fib extension) with conviction, which would confirm trend reversal and trigger momentum-buying.
If JUP maintains the breakout structure and pushes through immediate resistance at $0.457, the path to $0.50 and beyond looks technically feasible.
However, a rejection or failure to hold $0.42 could expose the market to downside retests of the prior correction zone.
This could invalidate the bullish scenarios entirely as it could mean that JUP ended its recovery on a three-wave advancement, as a corrective increase.
Full invalidation will occur if the price goes below $0.40, which is the territory of wave (i). According to Elliott Wave Theory, the price cannot enter a five-wave impulse.
Early signs are encouraging, but confirmation lies in sustained strength above resistance with strong volume inflow.
Key Levels to Watch
- Support: $0.42 (wave iv low), $0.40, $0.30 (macro support).
- Resistance: $0.457 (0.236 Fib), $0.50 (0.5 Fib), $0.545–$0.58 (wave v targets).
- Breakout Confirmation: Close above $0.457 with rising volume and RSI above 60.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
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