Jupiter (JUP) Faces Downside Potential: Bearish Flag Pattern Signals Continued Pressure

Jakarta, Pintu News – The Jupiter cryptocurrency asset JUP10.71%->Current JUP PriceRp 6.07610.71%Market Cap-Trading Volume-Circulating Supply- is currently in a vulnerable situation, with technical indicators showing the potential for further price declines. Despite recording a daily gain of 3.50%, JUP’s weekly performance still shows a decline of 1.38%. The volatile state of the crypto market raises concerns of a deeper correction, especially with the emergence of a technical pattern known as a bearish flag.

Bearish Flag Pattern Signals Continued Selling Pressure

Leading market analyst Ali Martinez observed the formation of a bearish flag pattern on JUP’s 4-hour chart. This pattern is usually a continuation signal of a downtrend after a short period of consolidation. In JUP’s case, it formed after a sharp price drop from $0.83 (IDR13,529) to $0.48 (IDR7,824) within seven days in early March.

The price is currently moving in a range between $0.50 (IDR8,150) as support and $0.56 (IDR9,128) as resistance. If the price breaks below this support significantly, the bearish flag pattern will be validated. Based on the length of previous declines, Martinez estimates that the price of JUP could fall to $0.41 or around Rp6,683, reflecting a potential decline of more than 21%.

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Recovery Opportunity if IDR9,128 Resistance is Broken

Although the technical signals indicate downward pressure, the opportunity for recovery remains open. If the price of JUP manages to break the resistance at $0.56 (IDR9,128), then the bearish flag pattern can be declared canceled. In this scenario, JUP is expected to rise towards $0.83 (IDR13,529), which is the next strong resistance.

As the crypto market continues to fluctuate, the upward price movement will largely depend on the volume of transactions and buying interest from investors. Investors are advised to pay attention to this area as a short-term direction determinant. Whether or not the resistance is broken is an important key in reading the potential rally or further correction of this asset.

General Market Pressure Pressurizes Jupiter Price

In the past month, the price of JUP has recorded a decline of 30.15%. This correction occurred along with the general weakening of the crypto market, although the Jupiter team has taken proactive steps to maintain the value of the token. One such effort is a token buyback program using 50% of the protocol fee.

However, this strategy has not been able to fully withstand the selling pressure from the market. The Relative Strength Index (RSI) briefly touched oversold territory, before bouncing back, signaling a potential reversal. This is one of the hopes for JUP holders to see a trend reversal.

Investor Sentiment Still Bearish, but Outlook Remains Open

According to the Coincodex analysis platform, the general sentiment towards JUP is still in the bearish zone. The Fear & Greed index stands at 32, indicating that the majority of investors are still very cautious. However, some analysts remain optimistic, projecting a potential price increase of up to 227% in the next month.

At the time of writing, JUP is trading at $0.52 (IDR 8,476), with daily trading volume increasing by 21.78% to reach $42.57 million or around IDR 693 billion. This activity shows that there is still considerable market interest in this asset, despite the negative short-term sentiment.

Conclusion

Jupiter (JUP) is currently at an important junction, with a potential drop to IDR6,683 if the bearish flag pattern is confirmed. However, chances of recovery remain if the price is able to break through important resistance zones. In the volatile cryptocurrency market climate, investors are advised to remain vigilant, observe technical movements, and consider a mature risk management strategy before making investment decisions.

Read More: Chainlink (LINK) Tests Critical Support, Potential Price Recovery on Investors’ Eyes

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• NewsBTC. Jupiter Price Action Signals Breakdown – $0.41 Target In Play. Accessed March 24, 2025.
• Featured Image: CoinStats