Solana
Solana DEX token Jupiter retreats 21.8% from highs to test key technical support
JUP is testing the $0.29 level after a sharp retracement, even as its high-leverage trading feature generates over $1 billion in volume.
Jupiter's native token JUP has dropped 21.8% from its October peak of $0.388, testing support around the $0.29 mark amid general market softening.
The price adjustment follows the October 15 beta rollout of YOLO, a high-leverage product on Solana providing up to 1,000x exposure on SOL, ETH, and BTC. The platform accumulated more than $1 billion in volume, utilizing a simulated liquidity pool where winners receive payouts directly from pool reserves once prior claims clear.
Technical analysis shows the two-hour trend turning bearish, with the prior $0.32 support zone converting into resistance. While the macro trend established from May's $0.144 low remains intact, the report notes that further weakness could see JUP head toward a long-term order block near $0.22.
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