Will Jupiter (JUP) Break the $2 Barrier with New Pattern?

Jupiter (JUP) is experiencing mixed market signals as it eyes a potential new high of $1.90. Despite a recent 15.65% rally and bullish indicators like a head-and-shoulders pattern and increased Open Interest, concerns arise from a notable imbalance in long liquidations, suggesting bearish sentiment. The decrease in Exchange Netflow indicates holders are opting to retain JUP, reducing its supply on exchanges. However, the disparity in liquidations, with long liquidations significantly outweighing shorts, suggests market sentiment may still favor bears, potentially hindering JUP's upward momentum.