Jupiter jumps 15% ahead of 200mln airdrop – But THIS could stall JUP’s rally

Jupiter’s native token, JUP, drew heightened attention on the 28th of January as its airdrop approached.

The focus centered on distribution mechanics rather than price gains alone.

Jupiter [JUP] confirmed plans to distribute 200 million JUP tokens on the 30th of January. Of that total, 175 million tokens targeted fee-paying active users, while 25 million were allocated to stakers.

That update coincided with a sharp rise in market participation. Price gains aligned with rising activity across spot and derivatives markets.

At press time, JUP traded at $0.2217, up roughly 15% over 24 hours. Spot Volume climbed 210% to $63.64 million, reflecting elevated trader engagement.

However, another catalyst shaped sentiment. Coinbase completed its Solana [SOL] chain integration during the same period.

That move enabled users to trade Solana-based tokens directly on Coinbase through Jupiter’s aggregation layer. The integration expanded Jupiter’s reach beyond native Solana users.

Can JUP clear resistance?

On the daily chart, JUP formed a double-bottom structure near the $0.20 region. Price moved toward the neckline near $0.233 after the recent rally.

A decisive break above that level could have opened room toward $0.32. That target implied roughly 35% upside from current levels.

However, previous attempts near $0.233 triggered reversals. The bullish setup required a sustained close above that resistance.

JUP also traded above the 50-day Exponential Moving Average, signaling short-term trend strength.

Source: TradingView

Leverage clusters shape risk

Data from CoinGlass showed concentrated leverage on both sides of JUP’s range.

According to the latest data, traders were heavily overleveraged at $0.201 on the downside, where strong interest is recorded, and at $0.234 on the upside, where comparatively lower interest is observed.

At these levels, traders had built approximately $2.22 million worth of long-leveraged positions and $1.13 million worth of short-leveraged positions.

Source: CoinGlass

This positioning suggests that intraday and short-term market sentiment remains bullish.

During 2025, JUP dropped over 75%, falling from $0.943 to near $0.215. That history kept long-term sentiment cautious.

Reacting to the recent breakout attempt, a market commentator wrote,

“JUP is officially out of the cage.”

The remark captured improving momentum but stopped short of confirming a trend reversal.

Final Thoughts

• Jupiter [JUP] faces resistance near $0.233, while liquidation exposure around $0.201 could magnify volatility quickly.
• A 200 million token airdrop and Coinbase’s Solana integration boosted Spot Volume and short-term speculative demand.