Jupiter (JUP) Tests Critical Support Ahead of Potential Bullish Reversal

Jupiter (JUP) is testing a critical support point after an extended downtrend brought the price to its lowest value since the market release.

Jupiter (JUP) price has been testing a critical support point after an extended downtrend brought the token to its lowest value since the market release.

However, the current structure may signal the exhaustion of bearish momentum, with early indications of a potential bullish reversal forming.

The interplay of a falling wedge pattern, corrective wave structure, and support confluence near the 0.786 Fibonacci level warrant close attention in the coming days.

JUP Price Analysis

The daily chart of JUP illustrates a prolonged corrective sequence unfolding in a WXY structure from the all-time high, with the final leg of wave (c) nearing potential exhaustion.

The decline, which began after the $1.86 peak, has brought price back down toward $0.435—precisely at the 0.786 Fibonacci retracement of the major impulsive leg.

This level has historical significance, previously acting as a support zone for the first consolidation.

The price is now converging at the apex of a descending wedge—a classic reversal pattern often associated with the end of corrective waves.

The Relative Strength Index (RSI) on this timeframe hovers near oversold territory, aligning with the wedge apex and suggesting that bearish momentum may be weakening.

Given the complete Elliott Wave labeling for wave (c) and its convergence with strong support, a bounce is becoming more probable.

While a final flush lower remains possible in wave v of (c), the price structure hints that a higher low and potential bullish breakout could form soon.

Particularly if the price reclaims the descending trendline and breaches above $0.50.

JUP Price Prediction

On the 4-hour chart, JUP’s decline appears to complete a five-wave sequence within the descending channel, but it could still be a higher-degree decline of wave C.

The subwaves of this last impulsive leg are clearly defined, and the price is now testing the lower boundary of the descending structure near $0.43.

A short-term bounce will be expected, but two scenarios will emerge depending on the upward momentum.

The RSI shown on the hourly chart fell to extreme oversold conditions and is now starting to recover, showing a slight bullish divergence.

This further supports the potential for an upward reaction, particularly into wave iv of a larger C wave or potentially into a new impulse altogether.

In the bullish case, the channel breakout could trigger a relief rally toward the 0.618 Fibonacci level at $0.735.

This would mark the first resistance zone for wave iv or a possible wave (1) of a reversal.

However, if the current move is merely a wave iv correction, $0.73 may cap the advance before one final leg lower toward the $0.30-$0.35 zone to complete wave v of (c).

The pivot for both scenarios lies around the $0.50 mark. A sustained breakout and hold above this level would favor bulls, while rejection may keep the downtrend intact temporarily.

Key Levels to Watch