Jupiter climbs as protocol revenue rebounds

• Jupiter (CRYPTO:JUP) rose nearly 30% over the past week after protocol revenue recovered sharply during June.
• The token climbed above its 200-day exponential moving average as derivatives activity and on-chain metrics pointed to stronger market participation.
• Analysts said continued revenue growth and a move above key resistance could support further gains, although broader crypto market risks remain.

Jupiter (CRYPTO:JUP) traded near US$0.233 after gaining almost 30% over the past week, as higher protocol revenue and improving technical indicators supported renewed buying interest.

According to DeFiLlama, Jupiter generated 261,909 SOL in user fees and 76,257 SOL in protocol revenue during June, reversing three consecutive months of declining network activity and increasing demand for the token through its staking and governance model.

Data from DeFiLlama showed June's increase in protocol revenue followed three months of weaker network activity.

Jupiter reclaimed its 200-day exponential moving average near US$0.219 and remained above its daily Supertrend indicator, while open interest increased about 11% to US$58.7 million and funding rates stayed positive, indicating continued participation from leveraged traders.

Analysts said resistance is concentrated around US$0.238 and the psychological US$0.24 level, while support is near US$0.218, with a sustained move above resistance potentially opening the way towards the May high near US$0.26.

Despite Jupiter's gains, the broader cryptocurrency market remains cautious, with the Crypto Fear & Greed Index near 11 in Extreme Fear territory as investors continue to assess macroeconomic conditions and liquidity.

Analysts said a break below the US$0.218 support level could place the 200-day exponential moving average under pressure and increase the likelihood of a decline towards the US$0.20–0.19 range if protocol activity or market sentiment weakens.

At the time of reporting, Jupiter price was $0.2361.