Jupiter (JUP) price recently surged over 10% following news that Grayscale added the coin to its list of 35 altcoins under consideration for investment. This positive development has driven renewed interest in JUP, sparking an uptrend in the market.

While some metrics point to continued strength, others suggest that the uptrend may face challenges ahead. Let’s explore these indicators to understand what might be next for JUP.

JUP Current Uptrend Is Very Strong

The recent news from Grayscale has resulted in JUP’s Average Directional Index (ADX) jumping to 39.76. The ADX is a measure of trend strength, with values above 25 typically indicating a strong trend in the market.

In this case, a value near 40 is substantial and signifies that the current price trend has significant momentum. Importantly, ADX itself does not indicate the direction of the trend — it simply shows how strong it is.

Given the recent upward price action and the ADX value, it is clear that the trend pushing JUP higher is gathering force. Such an ADX reading gives traders confidence that the trend is not weakening, suggesting that the recent surge may continue.

Read more: 11 Top Solana Meme Coins to Watch in October 2024

When analyzing the Directional Movement Index (DMI) chart for JUP, the D+ line stands at 37.99, while the D- is at 10.69. The DMI consists of two components, the positive directional indicator (D+) and the negative directional indicator (D-), which help in identifying whether buyers or sellers have the upper hand.

In JUP’s case, a D+ of 37.99 compared to a D- of 10.69 shows that buyers are dominating the market. A higher D+ means that upward pressure significantly outweighs downward pressure, reflecting strong bullish sentiment. The combination of a high ADX value and the considerable difference between D+ and D- suggests that the

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Author: Tiago Amaral