Jupiter’s Meteoric Rise: Bulls Eye $0.75 – But Is It a Trap?

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  • Open Interest soars by 19.24%, volume spikes, and surprise, we have a breakout above $0.62!
  • Liquidation data tells us shorts are sweating—accumulation is real, people.

Hold onto your hats because Jupiter (JUP) just surged by a whopping 13.85% in the last 24 hours. What’s causing this buzz? Oh, just a *mild* 92.78% volume increase to a cool $170.63 million. And if that doesn’t scream “bullish breakout,” I don’t know what does. It also broke resistance levels that last haunted us back in March. So, we’re talking serious business here, folks. 🌌

This rise fits perfectly into a textbook cup-and-handle pattern. You know, the kind of chart formation that makes traders do a little happy dance. It’s like the universe just gave us a “yes” stamp on this bullish momentum.

Volume’s up, prices are climbing, and everything aligns. If this were a rom-com, this would be the “falling in love at first sight” moment. And guess what? We might not be done yet. 😏

Is Jupiter’s breakout for real?

JUP’s price action confirms it: We’re officially in a cup-and-handle situation, and the breakout above $0.60-$0.62 resistance is a glorious sign of reversing a long, sad downtrend. Can we get a round of applause for that?

This pattern is like the friend who always says, “Trust me, I’ve got this,” and then actually delivers. The breakout isn’t just pretty on paper, it’s also backed by volume—so it’s got some serious street cred. 📈

And as for targets? A measured move suggests a shiny $0.75 level could be in the cards. Sure, the bulls are feeling cocky, but with momentum this strong, who’s stopping them?

Is Open Interest backing the bulls?

Hold your applause because Open Interest just climbed by 19.24%, reaching $148.48 million. That’s not just a number; that’s the market saying, “Hey, we’re in it for the long haul!” It’s like when everyone at the party suddenly realizes the DJ is actually *really* good, and they all hit the dance floor. 🎶

The rising Open Interest aligns perfectly with the surge in spot volume—both markets are basically high-fiving each other. On May 23rd, we saw a net positive balance of spot inflows, with $16.64 million coming in, while outflows were a mere $15.90 million. No panic here, folks, just good old-fashioned accumulation. 👌

And you know what? No crazy spikes to report. This isn’t a “flash-in-the-pan” kind of moment—it’s sustainable. Bulls, you’re looking good right now.

Are short liquidations helping the cause?

Let’s talk about short liquidations because they are basically the unsung heroes of this rally. Binance is dominating in trading volume, with $2.18 million in play, but OKX and Bybit are giving it a run for their money. The real twist? OKX saw some big outflows ($404.24K), while Kraken’s inflows were strong ($100.34K). It’s like a drama-filled soap opera, but for crypto.

The liquidation heatmap on Binance reveals a “liquidation fiesta” around the $0.63 mark. It’s like the bulls walked in and said, “Look, we’re gonna go ahead and push the price up now,” and the shorts were like, “Wait, what just happened?”

The aggressive squeeze on shorts has made things *way* easier for bulls to keep the momentum going. And with fewer resistance walls, the bulls are having a field day. Let’s just hope they don’t get too carried away, okay?

Can Jupiter hit $0.75 soon?

So, what’s the verdict? With a breakout above $0.62, skyrocketing volume, and rising Open Interest, JUP is on a solid bullish run. If this keeps up, $0.75 isn’t just a fantasy—it’s a very real possibility. 🌠

Unless there’s some major plot twist (aka a sharp reversal), the bulls seem to be in control, and we’re all just along for the ride. Buckle up, it’s about to get exciting.

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2025-05-24 10:24