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JUP

JUP - Jupiter in DANGER after Airdrop Criticism ❗📉Hi Traders, Investors and Speculators of Charts📈 Because Jupiter is newly released, we're currently seeing that first hard initial dump. This is mostly airdrop holders dumping and traders shorting on the way down. And unfortunately in the short term timeframe, there isn't sufficient buying pressure showing up to outweigh the enormous selling pressure: Being unable to close ABOVE resistance after that low wick indicates heavy selling pressure and insufficient buying pressure, short term. Another scary development is criticism from the community about the airdrop. According to a few news outlets, users are concerned that Jupiter is using this open market opportunity to raise funds without users being “completely aware” this was the case. A key issue raised is about the Jupiter team’s method of offering JUP on the open market. Users are claiming this is basically to raise funds from the open market and according to critics, this detail was not clearly communicated to those participating, leading to discussions about the level of transparency and the degree to which buyers were making informed decisions. The Jupiter team has been very active on X and quickly responded to concerns. Meow, the founder of Jupiter, wrote in an X post that the team would have received more funds had they opted for an over-the-counter deal or a regular initial DEX offering. According to the team, the reason they had launched their token in the way they did was to ensure that airdrop recipients would be able to sell into a massive pool, while prospective buyers would have the assurance that there would be a big enough pool to absorb selling pressure from airdrops. We have gathered just enough data from the exchanges to form a 200d moving averages in the 1h. Naturally, to even begin to consider a trend reversal, we would need to see price action ABOVE all the moving averages in the 1h: If you found this content helpful, please remember to hit like and subscribe and never miss a moment in the markets. _______________________ 📢Follow us here on TradingView for daily updates📢 👍Hit like & Follow 👍 CryptoCheck KUCOIN:JUPUSDT
Short
by CryptoCheck-
Market Update - February 2, 2024Weekly Market Update - February 2nd 📨 Fed Votes to Hold Interest Rates Causing Stocks to Tumble SEC Set to Approve Ethereum ETF by May Record Breaking Trading Volumes for Solana Dex in Wake of LSE:JUP Airdrop Ethereum ETF: According to a new report by British multinational bank Standard Chartered, the U.S. Securities and Exchange Commission (SEC) is set to approve Ethereum (ETH) exchange-traded funds (ETFs) by the final deadline for approval on May 23, potentially doubling the current price of ETH. The report expressed strong confidence in an approval, citing the fact that the regulator has not classified ETH as a security. $700M LSE:JUP Airdrop to Solana Wallets: One of the biggest token airdrops ever took place on the SOL blockchain this week, as the Jupiter network started distributing roughly $700 million worth of its JUP token to nearly a million SOL wallets. Token trading on Solana decentralized exchanges briefly surpassed trading on Ethereum-based exchanges in December, and with the latest JUP airdrop, it could very well flip in favor of Solana again. Stocks: Markets closed down -1.61% and -1.94% respectively, caused by the pushback of an interest rate cut, and amplified on the day due to a number of the tech giants showing underwhelming earnings on Tuesday evening and opening lower on Wednesday morning. 🏦 Topic of the Week: What is an ETF? Read more here
GEMINI:BTCUSD
by Gemini
2
JUP: new ATH incoming?Jupiter is recently showing some signs of strength. This makes me think the token is ready for a new chapter. The team is working hard to improve the Metis Messenger app (the 18th of february there will be an important update). DeFi is also coming to jup and it willl be very positive cause it will let hodlers get an APY just by holding jup tokens. Jup is an interesting project cause it's keeping its own identity even when integrating with other chains. Price action: -Jup is printing a beautiful bullish flag in the daily chart, this is most of the time a continuation pattern and it's normal to have a volume weakness during the formation of those types of patterns. -A bullish flag don't last much, at least 1 to 3 weeks. -if we break upward i expect at least a 70% run which will take jup over the old trendline broken in november. This trendline is important cause it was held by jup price for 121 days! So we will obviously interact with it again. fibonacci: If we measure the fibonacci trend based extension from the beginning of the impulse to the top of it, until the bottom of it ( assuming the bottom was 0,023$), we can expect a run towards 0,13$. Final consideration: Jup is bullish recently and i think it can continue higher, we just need the team to continue delivering updates and the community to make their voices louder than ever! Here for you, as always, CryptoSoap!
Long
by UnknownUnicorn19016152