Jupiter (JUP) Testing Key Support – Will This Pattern Spark a Recovery?

Date: Mon, June 02, 2025 | 10:10 AM GMT

The cryptocurrency market witnessed a sharp pullback recently, dragging major tokens into the red. Bitcoin (BTC) briefly dropped to around $104K, while Ethereum (ETH) slipped to $2,480, down from recent highs of $111K and $2,700 respectively. This broad correction impacted major altcoins—including Jupiter (JUP).

The DEX token JUP saw a double-digit weekly decline of around 17%, trimming its monthly gains to 12%. However, a well-known pattern forming on the chart suggests that a rebound may still be possible.

Broadening Wedge Setup in Play

JUP’s daily chart shows a classic broadening wedge—a pattern that typically indicates high volatility and uncertainty. Although often considered bearish, it can also lead to sharp upside moves before a potential breakdown.

As seen in the chart, the latest correction began after JUP was rejected from the upper trendline around $0.6550 on May 27. This triggered a steep drop toward the wedge’s lower boundary. Today, JUP falls to this lower trendline support near $0.5060, just below the 100-day moving average (MA).

What to Watch Next?

If JUP can hold this wedge support and sustain above the 100 MA, it could confirm a bullish reversal and send the price climbing back toward the upper trendline, potentially aiming for $0.72 and higher in the short term.

Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.

Written by

Nilesh Hembade

Nilesh Hembade is the Founder and Author of Coinsprobe, with 5+ years of experience in cryptocurrency and blockchain. Since launching the platform in 2023, he delivers daily, research-driven insights through market analysis, on-chain data, and technical research. His work has been featured on Binance, Bitget, and CoinMarketCap. He is also certified through Binance Academy (NFT Certificate).

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