JUP Long Trade Setup
Current Situation:
Fundamental News:
JUP is looking to burn 30% of its supply, reducing the total supply from 10B to 7B tokens.
The team, including co-founders, has pledged to extend their vesting period to June 2026, demonstrating a long-term commitment to the project's success.
Technical Analysis:
The price is currently forming a double bottom, a bullish reversal pattern.
We will look for the 0.7579 area of support to hold and watch for signs of a shift in structure towards the upside to enter the trade.
Trade Strategy:
Entry Point: Enter a long position in the range of $0.78 to $0.84.
Take Profit Targets:
First Target: $0.98
Second Target: $1.12
Stop Loss: Set a stop loss at $0.684 to manage risk.
Summary:
JUP's proposal to burn 30% of its supply and the extended vesting commitment by its team are strong indicators of potential long-term success. Technically, the double bottom pattern suggests a possible bullish reversal. The trade strategy involves entering at $0.78 to $0.84, with profit targets at $0.98 and $1.12. The stop loss is set at $0.684 to limit downside risk.
Fundamental News:
JUP is looking to burn 30% of its supply, reducing the total supply from 10B to 7B tokens.
The team, including co-founders, has pledged to extend their vesting period to June 2026, demonstrating a long-term commitment to the project's success.
Technical Analysis:
The price is currently forming a double bottom, a bullish reversal pattern.
We will look for the 0.7579 area of support to hold and watch for signs of a shift in structure towards the upside to enter the trade.
Trade Strategy:
Entry Point: Enter a long position in the range of $0.78 to $0.84.
Take Profit Targets:
First Target: $0.98
Second Target: $1.12
Stop Loss: Set a stop loss at $0.684 to manage risk.
Summary:
JUP's proposal to burn 30% of its supply and the extended vesting commitment by its team are strong indicators of potential long-term success. Technically, the double bottom pattern suggests a possible bullish reversal. The trade strategy involves entering at $0.78 to $0.84, with profit targets at $0.98 and $1.12. The stop loss is set at $0.684 to limit downside risk.
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