VIP MARKET UPDATE: $JUP
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$JUP is trading around the 0.1710 area, sitting right on the ascending trendline that has been rising since late March and is now converging with the 0.1710 horizontal support that has acted as a reference point throughout the structure. After pushing to the 0.1900 highs and getting rejected, price has gradually retraced back to this critical confluence zone where buyers need to step in to preserve the bullish structure that has been building for weeks.
As long as JUP holds above the trendline and the 0.1680–0.1710 area, the pullback remains corrective and a recovery toward the 0.1750–0.1800 zone is still in play. A trendline loss on a closing basis however would be a significant development, breaking the structure that has been intact since late March and opening the door toward the 0.1630 area and below.
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