Degen

Jupiter's (JUP) recent price increase of 1.77% may be short-lived, as market participants oppose the token's fundamentals, potentially leading to a fall. Here are the key points:

- Buy-Back Mechanism: Jupiter Exchange plans to use 50% of transaction fees to buy back JUP, aiming to reduce circulating supply and induce a supply squeeze.
- Declining Market Activity: Despite the bullish fundamental factor, market activity and engagement have declined, adding downside pressure to JUP.
- Chart Analysis: JUP was recently rejected at a key resistance level, potentially leading to a fall to two support levels: $0.7904 and the main support of the symmetrical channel.
- Potential Rebound: If JUP falls to the support level, it could rebound and attempt to break above the resistance level, potentially reaching $1.44.

Overall, Jupiter's market activity suggests a potential fall, despite its buy-back mechanism and bullish fundamentals.