Jupiter (JUP) is making headlines after posting a powerful 13.85% rally in the last 24 hours, marking one of the strongest breakouts in recent weeks among altcoins. Supported by a massive 92.78% jump in trading volume, which reached over $170 million, JUP’s breakout from a key resistance zone has captured the attention of traders and market analysts alike.

The recent rally has been technically validated by a textbook cup-and-handle formation, a bullish continuation pattern that began forming in early March. With the breakout above the $0.60–$0.62 resistance range now confirmed, many traders see a clear runway toward the $0.75 level.

This move not only ended a prolonged downtrend but did so with heavy volume, signaling that the bullish momentum isn’t just speculative—it’s underpinned by growing investor confidence and market demand. When price action aligns with volume surges, the chances of a sustainable rally increase significantly.

In addition to technical factors, derivatives data is painting a bullish picture. Open Interest (OI) surged by 19.24%, climbing to $148.48 million, a strong indicator that market participants are reopening long positions with conviction. This OI increase came hand-in-hand with the spike in spot volume, showing that both spot and futures traders are aligned in their optimism.

Market inflows also reinforced the bullish case. On May 23rd alone, spot inflows hit $16.64 million, narrowly outpacing outflows, which stood at $15.90 million. While the difference may seem small, the positive net flow points to ongoing accumulation rather than short-term profit-taking or distribution. More importantly, this accumulation appears steady and organic, without the erratic inflow spikes often seen during speculative pumps.

Looking at exchange-level data, Binance dominated spot trading activity with $2.18 million in volume, followed by OKX and Bybit. However, it’s the flow trends across exchanges that tell the full story. Kraken posted the largest net inflow at $100,000, while OKX saw notable outflows. This dispersion suggests that buying is happening across multiple platforms, not concentrated on a single venue—a sign of healthier and broader market participation.

One of the most compelling signals supporting JUP’s continued upside comes from liquidation data. According to Coinglass, dense clusters of short positions were liquidated around the $0.63 mark—right at the resistance level JUP just broke through. These short liquidations effectively cleared the path for upward movement, squeezing bearish traders and eliminating near-term overhead pressure.

This cascading effect has thinned resistance levels, allowing bulls to maintain control with less friction. With many of the shorts now flushed out, upward momentum could continue as remaining resistance levels are less fortified.

Looking ahead, the next target for bulls is clearly defined. Based on the cup-and-handle breakout projection, JUP could reasonably push toward the $0.75 level in the near term. As long as price stays above the former resistance range and accumulation remains strong, the technical and on-chain landscape favors further gains.

Of course, any sharp reversal below the $0.60 level would cast doubt on the current rally. However, for now, momentum is firmly in the hands of the bulls. Unless market conditions shift drastically or a new wave of profit-taking emerges, Jupiter appears well-positioned to test the $0.75 mark in the coming sessions.