Jupiter Soars 50% in 30 Days—But a $33M Token Unlock Looms as the Next Resistance

Jupiter's meteoric rally faces its next big test—a $33 million token unlock that could slam the brakes on its ascent. Here's why traders are watching the clock.

### The 50% Pump: Sustainable Growth or Overheated Hype?

JUP's price surge defies the broader market's sideways grind, but veteran crypto traders know these rallies often come with a catch. The project's upcoming token release—worth eight figures—threatens to flood the market just as bulls push for new highs.

### The Unlock Calculus: Supply Shock or Smart Money Play?

Token unlocks are crypto's version of Schrödinger's catalyst—they're both bullish and bearish until the market picks a narrative. Will early investors dump their freshly unlocked JUP, or will the added liquidity attract institutional players? (Spoiler: Follow the wallets, not the tweets.)

### The Cynic's Corner

Nothing brings out 'diamond hands' like the prospect of a 30-day ROI—until the unlock countdown hits zero and suddenly everyone's a 'long-term believer.' Stay sharp, apes.

$33M JUP token unlock could weigh on the short-term price

As per Tokenomist data, 53.47 million JUP tokens, worth approximately $33 million, are scheduled to unlock on July 28. This represents about 1.28% of the current circulating supply of 3 billion tokens. So far, only 42% of JUP’s 7 billion total supply has been unlocked.

Token unlocks often result in additional selling pressure, particularly when market sentiment is positive. Although not every unlocked token is sold, raising supply could slow down momentum, particularly if traders choose to take advantage of recent gains.

Jupiter technical analysis

Jupiter’s daily chart shows a clear upward trend, with the price rising along the upper Bollinger Band. The most recent candle closed at $0.6207, just below the upper band at $0.6378, suggesting that there is strong bullish momentum.

At 65.7, the relative strength index is getting close to the overbought mark. This indicates caution if momentum slows, but it also suggests strong buying interest. Short-term profit-taking may be triggered by a move above 70, which WOULD confirm overbought conditions.

If JUP breaks above $0.6574 with strong volume, it may retest $0.70, supported by increased derivatives positioning and trend strength. Sustained momentum could target the psychological $0.75 level. 

A pullback toward the mid-Bollinger band around $0.54 might occur if the $0.60–$0.58 support zone is not maintained, particularly after unlock. A retest of $0.50, where previous accumulation occurred, could be triggered by a break below this level.