Raydium and Jupiter are poised for further recovery:

Raydium edges higher by 4% at press time on Friday, extending the bounce off from the 50-day Exponential Moving Average (EMA) at $3.2441. The Solana-based DEX token recovery targets the $3.960 supply zone, acting as the overhead trendline. 

A decisive close above this level could extend the rally to the 38.2% Fibonacci retracement level at $4.1698, followed by the 50% Fibonacci retracement level at $5.0285.

The Moving Average Convergence Divergence (MACD) crossed above its signal line on the daily chart, giving a buy signal and indicating a surge in bullish momentum. Additionally, the Relative Strength Index (RSI) at 60 extends the upward trend, indicating further space for growth before reaching overbought levels. 

Looking down, if RAY fails to cross above $3.960, a potential reversal could test the 23.6% Fibonacci retracement level at $3.1074. 

On the other hand, Jupiter also maintains a bullish outlook with a 5% surge at press time on the day, marking the sixth consecutive day of gains. The recovery run exceeds the 200-day EMA at $0.5530, with bulls targeting the $0.7364 mark, last tested on July 23. 

Adding to the bullish potential, the MACD and signal line rise with successive green histogram bars on the daily chart, showing increased trend momentum. The RSI upsurge to 64 indicates a boost in buying pressure.

On the downside, a reversal under the 200-day EMA would invalidate the bullish potential, which could result in a decline to the 100-day EMA at $0.5064. 

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#JUP
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