币界网报道：Solana-based Jupiter [JUP] has received a lot of attention from crypto enthusiasts over the past week for its impressive 30% gain. This momentum not only paves the way for the potential for continued gains, but also attracts more and more traders to bet on the bullish side. At press time, JUP is trading near $0.426, with a price increase of more than 6.25% in the past 24 hours. Traders are showing strong interest and confidence in the token, which has led to a 10% increase in trading volume. What is the reason for Jupiter's price increase? Experts and analysts believe that the main reason behind this continued upward momentum is JUP's DEX trading volume. On June 22, Jupiter DEX shared a report showing that its trading volume has exceeded $1 trillion with 1.7 billion transactions. This highlights Jupiter's strong market position in the DeFi ecosystem, which has not only helped the platform reach the $1 trillion milestone but also brought significant revenue growth. At press time, data from DeFiLlama shows that Jupiter DEX has generated $254,176 in protocol revenue in the past 24 hours, bringing its cumulative revenue to a staggering $200.65 million. Price Action and Key Technical Levels According to the experts’ technical analysis, JUP looks bullish and is about to see a notable uptick. The daily chart shows that the asset recently broke above a descending trendline, forming a bullish inverted head and shoulders pattern that looks set to break out soon. Based on recent price action and historical patterns, if the current upward momentum continues and JUP breaks above the $0.43 neckline, there is a high chance that the price could surge by 35%. Therefore, the price could reach the $0.55–$0.59 range in the near future. This bullish outlook is further reinforced by the MACD, which crossed above its signal line following the recent uptick. Furthermore, the MACD histogram bars have turned green and appear to be growing larger, which indicates that bullish momentum is building and suggests that further gains are possible in the coming days. Traders focus on long positions Given the current market sentiment, traders appear to be optimistic as they are strongly betting on gains, according to data from on-chain analytics firm CoinGlass. The data shows that traders are overleveraged at $0.391 below and $0.446 above. At these levels, they established long positions worth $2.17 million and short positions worth $612,000, which suggests that the bulls have returned and are currently in control.