Date: Mon, April 28, 2025 | 04:42 AM GMT
After a rough start to 2025, where even Ethereum (ETH) tanked by 45% in Q1, the crypto market is finally flashing signs of much needed relief. ETH is up 27% over the past three weeks, and this bullish momentum is now spilling over into major altcoins.
One such altcoin making a noticeable comeback is Jupiter (JUP). After experiencing a heavy sell-off, the DEX token has surged by near 17% over a week—cutting its year-to-date losses down to about 43%. And now, a key harmonic pattern is forming, hinting that the recovery may not be over just yet.
Harmonic Pattern Signals More Upside Move
The daily chart for JUP, viewed through Heikin Ashi candles, reveals a bullish Crab pattern — a harmonic structure that often signals a bullish reversal up to a key reversal zone.
The structure began at point X, which marked a rejection from the Sept 07 low of around $0.6537. From there, the price surged sharply to point A, dipped back to point B, rose again to point C, and then dropped deeply to point D, bottoming out around $0.3024 on April 07 — marking a brutal 75% correction from the C point.
Currently, JUP has initiated a strong upward momentum. If this bullish Crab pattern plays out as expected, the next upside targets based on Fibonacci retracement levels from the CD leg are:
- First Target (0.382 Fib): around $0.6714
- Second Target (0.618 Fib): around $0.8994
- Third Target (0.786 Fib): around $1.0617
- Final Target (1.0 Fib): around $1.2684 — which corresponds to a full retracement back to point C.
From the current price of around $0.4647, reaching the final target at $1.2684 would represent a massive potential upside of about 176%.
What’s Next for JUP?
With the broader crypto market recovering and the bullish Crab structure backing the move, Jupiter could be set for a multi-stage rally in the coming weeks. However, key resistance zones lie at the intermediate Fibonacci levels, so bulls may need to break through each level gradually. If momentum stays strong, JUP might not just recover — it could even test new highs later in 2025.
Still, traders should keep an eye on Bitcoin and Ethereum’s price action, as broader market sentiment will heavily influence JUP’s next moves.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
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