JUP Price Poised for $0.82 Surge as Fluid Throws Weight Behind Jupiter’s New Lending Protocol

Jupiter’s crypto token JUP is gearing up for a potential breakout—targeting $0.82—after liquidity layer Fluid announced support for its upcoming lending platform. Move over, traditional banks—DeFi just got another speed boost.

Fluid’s backing signals institutional-grade confidence in Jupiter’s protocol, which aims to shake up the lending space. Because who needs middlemen when code can do the job faster and cheaper?

While some traders remain skeptical (when aren’t they?), the partnership could finally push JUP past stubborn resistance levels. Just don’t expect Wall Street to acknowledge the disruption until they’ve finished reverse-engineering it.

Jupiter teams up with Fluid to enter Solana’s money market

Jupiter announces an upcoming DeFi product, Jupiter Lend, powered by Fluid, on Thursday. The exchange claims it to be the most advanced money market on the Solana ecosystem and is expected to launch this summer. 

Fluid’s two-layer architecture, the Protocol and Liquidity layers, will power the Jupiter lend. Further up, Jupiter will provide instant liquidity against crypto collateral with yields backed by automated risk safeguards. 

The lending protocol will help Jupiter’s vision of becoming a DeFi super app. According to DeFiLlama’s data, Jupiter holds $2.677 billion in Total Value Locked (TVL), making it the biggest DEX on Solana. 

With the announcement, the solana users are excited about a new competitor entering the lending space. Marino, a DeFi enthusiast, shared that “days of Kamino Finance dominating this space alone are coming to an end,” in an X post. 

Marino adds that more competitors increase the pressure, leading to better products and an ecosystem evolution.  

JUP signals trend reversal with a bullish pattern breakout

Jupiter trades higher by 6% at $0.61 on Friday, recording a 20% jump this week, at the time of writing. The DeFi token reclaims the trading price last seen in early March and signals a trend reversal. 

Support the trend reversal thesis, the price action since early March shows a strong resistance level at $0.57, keeping the bullish growth in check. However, the surge in underlying bullishness forms an inverted head and shoulders pattern, as highlighted in the daily price chart shared below. This week’s recovery rally marks the pattern breakout, a 12% jump on Thursday, surpassing the $0.57 neckline. 

The 41% breakout target is calculated by adding the pattern’s depth to the neckline, targeting the $0.82 level. 

The Relative Strength Index (RSI) at 68 takes a parabolic surge, closing towards the overbought boundary with the weekly rally. The RSI surge suggests strong upward momentum but warns of overbought risks that could lead to minor pullback. 

Furthermore, the Moving Average Convergence/Divergence (MACD) indicator supports the uptrend thesis as it crosses above its signal line, triggering a bullish crossover on Thursday. 

JUP/USDT daily price chart. Source: Tradingview

On the flip side, a potential reversal in JUP could retest the broken neckline at $0.57. However, a decisive daily closing under the neckline will invalidate the bullish pattern breakout and could extend the decline to $0.46, the 7-day low.