Date: Mon, May 26, 2025 | 02:48 PM GMT
The cryptocurrency market kicked off the new week with renewed upside momentum following a brief pullback over the weekend. Both Bitcoin (BTC) and Ethereum (ETH) are showing strength today, helping to lift the broader altcoin market.
One standout performer is Jupiter (JUP), which surged over 15%, extending its monthly gains to 25%. Now, technical patterns suggest JUP may be gearing up for another significant move higher.
Inverse Head and Shoulders Breakout
Looking at the 12-hour chart shared by crypto analyst @JohncyCrypto, JUP has formed a textbook inverse head and shoulders pattern — a well-known bullish reversal signal. This formation often marks the end of a bearish phase and the beginning of a trend reversal to the upside.
The pattern began forming in late March, with the left shoulder bottoming near $0.40, a head dropping to the $0.31 range, and the right shoulder forming around $0.34. Earlier today, JUP broke out above the neckline resistance near $0.58, confirming the pattern and pushing to a local high of $0.617.
However, as is common after a breakout, the price is now pulling back for a retest of the neckline zone. This level, which acted as resistance for several weeks, could now flip into strong support.
What’s Next for JUP?
All eyes are now on the $0.58 support zone. If JUP holds this level and confirms it as new support, the breakout would be validated, setting the stage for the next leg up. Analyst projections highlight key upside targets at $0.670, $0.760, and ultimately $0.855 — the latter representing a potential 42% gain from current levels.
The 50-period moving average (MA 50) is also starting to curve upward beneath the price, supporting the bullish trend shift. Additionally, volume and RSI both suggest buyers are regaining control.
Still, if the $0.56 level fails to hold, short-term consolidation could follow, with potential dips toward the $0.51 or even $0.47 range before any further attempt at new highs.
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