Whales have significantly increased their Jupiter (JUP) holdings, with one wallet adding over 2.5 million tokens valued close to $620,000. Over a span of three days, the same large holder accumulated more than 10.32 million tokens, totaling approximately $2.56 million in value. This continued accumulation signals strong confidence in JUP’s prospects despite increased volatility in the cryptocurrency market.
During this buying phase, withdrawal activity from exchanges intensified, suggesting that major holders preferred transferring their assets to private wallets rather than selling immediately. This pattern often indicates a long-term investment strategy, as supply on exchanges tightens while demand sustained above key breakout levels supports price stability. Consequently, Jupiter has maintained robust buying pressure above the reclaimed support zone of $0.2065.
The token faced resistance near $0.2655, where recent price rallies encountered selling pressure causing a rejection. Still, the overall bullish setup remained intact as buyers defended earlier breakout resistances around $0.1775 and $0.2065, accelerating the upward momentum before the pullback. Technical indicators reflect this persistent buying strength: the Directional Movement Index (+DI) held steady around 36.21 while the -DI remained lower near 9.45, and the Average Directional Index (ADX) trended toward 39.67, signaling a solid prevailing trend despite recent price fluctuations.
Open Interest in Jupiter derivatives dropped by approximately 11%, falling to near $63.82 million amid escalating volatility. This decline suggests traders with leveraged positions reduced exposure as the token approached the $0.2655 resistance zone. While this cooling effect helped reduce liquidation risks by lowering crowded speculative bets, it also pointed to diminished short-term conviction among momentum traders following the sharp price rally. Nonetheless, the decrease in derivatives activity did not undermine the fundamental bullish structure, as price consolidation remained above vital breakout levels.