Date: Mon, March 24, 2025 | 08:24 AM GMT
The crypto market is showing signs of a rebound as Ethereum (ETH) bounces back with a 5.69% weekly gain, pushing above the $2,000 mark. This recovery has given altcoins some breathing room after months of selling pressure. As sentiment gradually improves, tokens like Raydium (RAY) and Jupiter (JUP) are beginning to stir after facing a heavy correction over the past 90 days.
RAY has gained strong momentum, surging by an impressive 15% over the week and breaking out of a key technical pattern. Meanwhile, JUP’s price action appears similar to RAY’s, positioning itself for a possible trend reversal.
Source: Coinmarketcap
Raydium (RAY) Breaks Out of Falling Wedge
RAY has successfully broken out of a falling wedge pattern, a bullish technical formation that often signals a trend reversal. The token recently surpassed the upper trendline of the wedge around $1.73, confirming a shift in sentiment.
Raydium (RAY) Daily Chart/Coinsprobe (Source: Tradingview)
Following this breakout, RAY jumped to its current price of $1.87, and if it maintains bullish momentum, the next key resistance lies around $3.02. A strong move above this level could pave the way toward the 50 & 100-day moving averages and the $4.90 region, marking a potential 160% rally from current levels.
However, if the price faces rejection at current levels, a retest of the breakout zone around $1.73 could offer a buying opportunity before further upside continuation.
Jupiter (JUP) Nears a Breakout Point
JUP has been mirroring RAY’s price movement, also trading inside a falling wedge pattern since reaching its $1.26 high on January 26. The token recently bounced from key support at $0.4480 and is now trading at $0.56.
Jupiter (JUP) Daily Chart/Coinsprobe (Source: Tradingview)
Now, JUP is approaching the upper wedge resistance and the 25-day moving average. A breakout and retest could drive the price toward the 100-day moving average and the $0.86 zone—which represents a 55% upside from current levels.
Final Thoughts
RAY’s breakout has set the stage for a bullish continuation, while JUP remains at a critical decision point. If JUP follows a similar trajectory, traders could witness significant gains in the coming days.
As always, market participants should closely monitor price action, volume confirmation, and key resistance levels before making investment decisions.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before investing in cryptocurrencies.
