According to reports from AMBCrypto, Jupiter [JUP] declined 13% during the recent market panic, with the token currently trading near a critical support zone. The cryptocurrency, which has a market capitalization of around $635 million, has entered a support area that has triggered rallies multiple times over the past 57 days. This level has accumulated 870 million JUP in volume, creating a potential foundation for a rebound if buying pressure continues.
The fundamental picture for Jupiter continued to weaken as key protocol metrics declined significantly. Annualized Fees, measured on a 30-day average, fell 29% to around $332 million at press time. A declining fee reading usually signals weaker protocol activity since fees come directly from transactions on the platform. Daily Active Users followed the same trend, dropping 19% over the past 30 days to 37,800 users, reflecting weaker engagement across the protocol and aligning with the bearish sentiment around JUP.
Despite the bearish setup, a rebound case started forming near support as spot market data showed positive buying interest. Negative Netflow over the past two days showed Spot traders were net buyers, with Netflow standing at $477,860 and total Spot buying volume reaching around $3.43 million. The last time JUP traded into this zone, the asset rallied 58%, showing strong buying interest from the same level. However, momentum indicators continue pressuring JUP, with both the Parabolic SAR forming above the price and the Money Flow Index dropping below the 50 mark, showing weaker capital inflows into the market.
The support zone that JUP has entered has proven to be a reliable level in the past, with the token trading into this area multiple times over the past 57 days. If the current support level holds, the recent decline could remain a short-term flush rather than a structural breakdown. However, until both the Parabolic SAR and Money Flow Index reverse direction, JUP could remain exposed to further downside pressure. The analysis suggests that while buying interest is present near the support zone, momentum indicators still weigh on the altcoin's outlook.
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