Jupiter Price Prediction: As JUP Plummets 8%, This Solana Layer-2 ICO Closes On $22 Million
The Jupiter price plunged over 8% in the last 24 hours to trade at $0.7769 as of 10:45 p.m. EST as investors dump their holdings in the crypto on the market. This recent drop in the JUP price has pushed the altcoin’s weekly performance into the red zone as well. Jupiter Price Forms A Bearish Channel 4-hour chart for JUP/USD (Source: GeckoTerminal ) The Jupiter price printed a series of lower lows and lower highs over the last couple of days, resulting in the formation of a descending channel on the 4-hour chart, according to GeckoTerminal . Should the altcoin continue to trade within this negative channel for the next 24 hours, JUP might drop below the $0.7913 support and fall to as low as $0.6885. On the other hand, the Jupiter price breaking out above the upper boundary of the descending channel in the next 8 hours could invalidate the bearish thesis. In this more bullish scenario, the crypto might try to flip the $0.8770 resistance into support. A 4-hour candle close abo...