【$JUP Signal】No Position - Waiting for Liquidity Test Completion

$JUP Continuing to decline on the daily chart, recently broke below the previous low of 0.1378 with increased volume, entering a new downtrend.

🎯Direction: No Position (NoPosition)

Market Analysis: The 4H chart shows consecutive bearish candles, with the latest candle dropping on high volume. Buying pressure is only 48%, indicating strong active selling. Price has moved far away from EMA20 (0.1494) and EMA50 (0.1624), both moving averages are in a perfect bearish alignment.

Core Logic: The key contradiction lies in the data. The funding rate is -0.0089%, which is negative, but open interest (OI) remains stable and has not decreased with the price drop. This does not align with typical “main players offloading” (OI decreasing) or “short squeeze” (OI increasing). It appears that longs are passively holding positions with unrealized losses, and shorts are not heavily adding to their positions.

Depth data shows an unusually thick bid wall in the 0.1350-0.1360 range, forming a potential support zone. RSI (29.51) has entered oversold territory, but RSI can remain dulled during a downtrend. ATR (0.0052) indicates moderate volatility.

Current Strategy: The price is testing the dense buy zone below, with two possible outcomes: a rebound or a direct breakdown. Until there is a clear decrease in OI (indicating capitulation by longs) or a significant increase (adding to shorts), the direction remains uncertain. The best approach is to stay on the sidelines, observing how the price reacts at the support zone (0.1350-0.1360). If volume increases and the price breaks below 0.1350 with rising OI, consider shorting. If the price stabilizes with decreasing volume and buy orders absorb selling, a short-term rebound may form.

Trade here 👇 $JUP

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