- Altcoin JUP breaks out of a multi-year downtrend.
- Is a 3,000% expansion cycle about to begin for the asset this summer?
- Will the price of JUP breakout and surge as bullish analysts expect?
The crypto market is experiencing a bullish start to the month of July as the first weekend of the month began with a pump in crypto prices. So far, many crypto assets have been printing green candles and traders and analysts expect the momentum to continue forth for the summer months. Already, altcoin JUP breaks out of a multi-year downtrend. Is a 3,000% expansion cycle about to begin?
Altcoin JUP Breaks Out of a Multi-Year Downtrend
Over the last few days, quite a few crypto market asset prices have been surging upwards, bringing with it a renewed hope for the bottom being formed, and for higher prices beginning to print. Already several assets, including BTC and ETH, have been moving upwards, with these assets reclaiming the prices above $60,000 and $1,600, respectively. Now, all eyes are on promising altcoins.
So far, promising altcoins like XRP, NEAR, FET, ONDO, and many other altcoins have been showing steady growth signals. Already, some altcoins seem to have set lower lows and possible bottoms. In particular, a few analysts are now eyeing the popular altcoin JUP. According to analytics, the price of JUP is trading at $0.2, showing that the asset is trading above 10% in the last 7 days and above 44% in the last 30 days.
Is a 3,000% Expansion Cycle About to Begin?
One of the biggest reasons for JUP to draw attention at the moment is because the asset is breaking out of a multi-year downtrend, meaning a possibility for a 3,000% expansion cycle could be about to begin. One analyst goes on to highlight how JUP has spent months printing a sequence of Lower Highs (LH) and Lower Lows (LL) inside a long-term descending channel, but the current weekly structure suggests a potential macro trend reversal is underway.
As the post goes on to explain, JUP price has reclaimed the higher timeframe accumulation zone ($0.15–$0.10) and is now testing the channel resistance. A confirmed weekly breakout above this trendline would invalidate the bearish market structure and signal the start of a new expansion phase. As for why this setup matters, it is a multi-year descending channel approaching breakout .
A strong HTF accumulation zone continues to hold and with the bearish structure on the verge of invalidation, a weekly breakout could trigger a macro trend reversal. The post goes on to highlight higher timeframe liquidity targets, which are $0.60, $1.50, $3, and $5. Thus, the projected move from current levels points to 10x – 30x price pumps. Once a confirmed weekly close above the descending trendline is set, aggressively bullish moves may occur.
