Jupiter [JUP] surged over 12% in 24 hours and more than 15% weekly, with daily trading volume jumping 109% to above $80 million. The rally is driven by a buyback program reducing circulating supply and broader Solana ecosystem discussions after founder Anatoly Yakovenko criticized Robinhood’s fee structure. Technical indicators show buyers pushing JUP toward a rising trend channel resistance near $0.25, with net volume positive and the Stochastic RSI at 73. However, if bears reject the price, JUP could fall to $0.23 or the demand zone at $0.21.
Jupiter [JUP] posted a 12% gain in the past 24 hours, bringing weekly gains above 15%. Daily trading volume surged 109% to more than $80 million, fueled by Solana ecosystem discussions.
The Jupiter Strategic Reserve has been reducing circulating supply through a buyback program. In the past 24 hours, the reserve added 143,572 JUP, bringing this month’s total to 1.013 million tokens. The Litterbox Trust now holds 165.637 million tokens.
Solana ecosystem conversations intensified after founder Anatoly Yakovenko said Robinhood’s 10% share of Arbitrum One fees was over four times larger than fees on Solana. This sparked network strength across Solana, with Raydium also gaining double digits.
Jupiter controlled 10% of all DEX aggregator revenue over the past 90 days, according to Token Terminal. Its sum during this period was $487.2K, six times less than Cow Protocol’s $3.1 million.
The price action shows JUP attempting to break past a rising trend channel in place since August 21. Net volume at press time was 1.81 million JUP bought, with the Stochastic RSI at 73. If bulls hold above the ascending resistance near $0.25, the altcoin may surge higher. If bears reject the channel resistance, JUP could drop to $0.23 or the demand zone at $0.21.
Traders should note bulls remain in momentum. The Stochastic RSI has touched the overbought zone three times this month, and net volume has been positive on average.
