The post JUP Price Drops 10% as Smart Money Keeps Accumulating appeared on BitcoinEthereumNews.com.

Jupiter (JUP) price is down 10% in the last 24 hours, cooling off after a strong rally fueled by major developments. In recent weeks, JUP made headlines with key acquisitions, including Moonshot and SonarWatch, and surpassed Raydium in Total Value Locked (TVL). Despite the ongoing correction, its EMA lines remain in a bullish setup, while smart money continues accumulating JUP at near-record levels. Whether JUP finds support or extends its decline below $1 will depend on how the market reacts to its latest price movements. Jupiter (JUP) RSI Turns Neutral After Hitting Overbought Zone Jupiter RSI hit 75.9 four days ago after its price surged following the announcement of its acquisitions of meme coins launchpad Moonshot and SonarWatch. However, since then, RSI has declined to 51.44 as the price dropped sharply, now down roughly 10% in the last 24 hours. This suggests that the recent rally has lost strength, and selling pressure is increasing as traders take profits. JUP RSI. Source: TradingView RSI (Relative Strength Index) measures momentum, with values above 70 indicating overbought conditions and below 30 signaling oversold levels. JUP’s RSI is now at 51.44, which means it is no longer overbought but hasn’t reached oversold territory. If RSI continues to drop, further downside could follow. However, if buyers step in and RSI stabilizes, JUP could find support and attempt a recovery. Smart Money Currently Holds 48.5 Million JUP The number of smart wallets holding JUP saw a sharp increase, rising from 22 on January 18 to 63 on January 23, before dropping to 44. Meanwhile, the supply held by these wallets has continued to grow, moving from 38.7 million JUP to 46.2 million and now reaching 48.5 million, after touching 49.5 million four days ago. This suggests that while some large holders may have exited, the overall…

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Filed under: News - @ January 30, 2025 12:22 am