Can JUP bulls defend $0.38 as the Jupiter DEX launches a pro platform?

The Solana-based decentralized exchange Jupiter has launched its Pro platform, sparking curiosity about its impact on the native JUP token’s price.

JUP, currently trading at $0.3796, has been consolidating after recent volatility, with bulls holding firm at the $0.3811 support zone.

Notably, Jupiter’s new platform arrives as the DEX’s trading volume surpasses Ethereum’s, signalling robust ecosystem growth.

Investors are now questioning whether this upgrade can push JUP past key resistance or if consolidation will persist.

The newly launched Jupiter Pro platform

The newly launched Jupiter Pro platform, dubbed Jupiter Pro, introduces tools designed to enhance trading efficiency and attract users.

The new platform features a Quick Buy feature that allows instant trades with a default amount, streamlining the process for retail investors.

It also features MEV protection, ensuring fairer trading by shielding users from malicious transaction reordering.

In addition, the Gas fees are slashed by 10x, making frequent trades more affordable compared to on Ethereum-based platforms.

Furthermore, the platform’s redesigned token terminal provides advanced analytics for Solana coins, and traders can toggle between SOL and USDC as their default currency, adding flexibility.

The platform also introduces new momentum metrics like Net Buy Volume and Net Buyers that offer insights into market trends.

According to enthusiasts, these upgrades could drive higher trading activity, potentially boosting demand for JUP.

In addition, Jupiter’s role as a liquidity aggregator amplifies its appeal.

By pulling liquidity from 29 protocols, including Orca and Raydium, it ensures superior pricing.

This aggregation is the main contributor to the 24-hour trading volume of $2.509 billion, which caused it to outpace Ethereum’s $1.895 billion trading volume.

Higher volumes historically correlate with token price appreciation, as seen in January 2024 when JUP hit $1.39 billion daily volume.

Sustained growth could pressure the $0.4102 resistance level.

Impact on Jupiter token price

Despite these advancements, JUP’s price action remains cautious as it consolidates near $0.3811, with low volatility hinting at accumulation.

Technical analysis reveals a support zone at $0.3504-$0.3811 and a resistance level at $0.4102.

A breakout above $0.4102 with volume confirmation could spark a rally. Conversely, a drop below $0.3595 risks testing lower supports, complicating the bullish case.

The Relative Strength Index (RSI) on the daily chart currently sits at 40.65, up from the oversold region, indicating that the token could be on a bullish reversal.

Jupiter price chart by TradingView

Also, the MACD convergence is at -0.05157567, pointing to a fading bearish momentum.

Notably, these technicals align with a market awaiting a catalyst, which the Pro platform might provide.

Ultimately, Jupiter Pro’s impact hinges on user adoption and market response.

If the Pro platform drives volume spikes, bulls may target $0.4290, provided the immediate resistance at $0.4102 breaks.

But if the platform fails to pick, JUP could struggle to maintain the bullish momentum and could probably see a retracement to the support at $0.3595 or lower.

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