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- JUP is within an ascending channel, with bullish growth expected through mid-2025 and a target of $2.43.
- Market retraces provide opportunities for traders to buy and reload during the ongoing bull market cycle.
According to Alan Santana, a popular crypto analyst on TradingView, the latest market-wide decline was brief, creating opportunities for prepared traders while testing the patience of those caught off guard. Santana said that many sold their investments close to support levels when prices fell, terrified.
Those who expected the market to recover, however, profited from buy the dip, therefore turning the market green and guiding it once more.
JUP: Bullish Momentum and Strategic Opportunities
For those that sold during the downturn, Santana stressed the need of learning from mistakes since retraces and corrections are inevitable in every bull market.
“Retraces and corrections offer a chance to buy-in, rebuy, and reload. We live in a bull market, hence every decrease is the moment to buy. Selling should wait until prices are rising,” he counseled.
He then analyzed JUP/USDT (Jupiter) pair, which he classified as bullish and trading within an ascending channel. The token has entered a bullish impulse following a consolidation phase between June and October 2024, maybe running until mid-2025.
Santana expects one significant fall before the token enters the bull-run phase; growth is projected all through the next year. JUP’s price targets based on his estimates are $2 and $2.43.
Meanwhile, as of writing, JUP is trading at about $1.13, correcting 6.81% over the last 24 hours. For those in line with Santana’s optimistic view, this reversal could offer a discounted buying chance.
Besides that, CNF noted that an added tool called Jupiter Spot simplifies user interactions using a clean UI. Engaging with price charts, users can make Limit Orders, switch between Dollar Cost Averaging (DCA) and Value Averaging (VA), check trade history. Combining their preferred tools in one location helps this function improve user experience.
CNF also highlighted that Jupiter Exchange proposed burning 30% of its team tokens earlier in October. With 95% of the vote in support, the initiative got great acceptance. This action over six months will cause three billion JUP tokens—worth more than $2.37 billion—to burn.