Five Crypto Charts to Watch This Week

Jupiter (JUP) has launched its token buyback program, committing 50% of protocol fees to repurchases starting Feb. 17, 2025. This move reduces circulating supply, potentially affecting price action, making JUP another crypto chart to watch this week.

Jupiter’s Ultra Mode generates $500,000 to $650,000 in daily fees, total revenue exceeding $9.6 million in two weeks. Buybacks from these earnings could create sustained demand, with all repurchased tokens locked for three years.

The move aligns with a broader DeFi trend of value-accrual mechanisms, similar to buyback initiatives by Aave and Ethena. With Jupiter’s leading trading volume among Solana-based DEX aggregators, the buyback’s impact on JUP’s price remains a key market focus.

However, despite the launch of its buyback program, the JUP price has struggled to gain traction. The token is down nearly 9% on Feb. 17, trading near $0.813. The drop brings JUP’s losses since Feb. 15 to more than 15%.

JUP price’s continuing downtrend could extend its losses, pushing the token toward the $0.76 support. The RSI stands at 43.08, reflecting weak momentum, while the selling volume remains elevated, indicating persistent bearish pressure.

The market reaction suggests that traders remain cautious despite the buyback announcement. Historically, buybacks create supply constraints over time rather than providing an immediate price boost. As such, the Jupiter token could factor in the buyback announcement later in the week.

If JUP fails to hold support near $0.76, a further drop toward $0.65 remains possible. However, a break above $0.88 could shift sentiment, with the next resistance at $0.94. The market remains unconvinced by the buyback’s short-term impact, keeping JUP’s price action under pressure.

Ethereum Has A Choppy Week Ahead

Ethereum (ETH) enters the spotlight this week as Hyperliquid adds ETH spot trading, potentially increasing liquidity and trading activity. The move integrates spot and derivatives markets, which could impact price dynamics by attracting institutional and retail traders.

Macro factors also play a role. CoinShares data shows ETH saw $7.2 million in outflows last week but maintains $785.8 million in month-to-date inflows, indicating institutional accumulation. Broader market conditions may influence ETH’s trajectory, with Neal Roarty, a cryptocurrency analyst at ClickOut Media, noting that macro uncertainty drives investor caution.

He highlights that “even with a pro-crypto president, market sentiment feels increasingly cautious” ahead of the Federal Reserve’s January meeting minutes. Risk assets like ETH could face downward pressure if the Fed refuses to cut rates.

Meanwhile, broad-based dollar weakness due to weaker US retail sales and ongoing tariff uncertainty may support ETH. A declining dollar has historically driven capital into alternative assets, and if this trend continues, Ethereum could benefit.

On-chain data from CryptoQuant shows Ethereum outflows increasing on Feb. 17, suggesting accumulation as traders move ETH off exchanges. The shift could indicate positioning ahead of Hyperliquid’s spot trading launch, reinforcing ETH exchange flow as a key chart to watch this week.

More outflows could indicate growing scarcity in the market, a potential bullish cue for ETH price. However, with macro volatility persisting, ETH’s short-term outlook remains uncertain, making it a key chart to watch as traders assess whether Hyperliquid’s expansion can offset broader market risks.

Another Chart To Watch This Week Is ETH Again

Interestingly, the ETH price action has resulted in the token testing the support level of a bullish technical setup called the ‘ascending triangle.’

The pattern consists of a rising trendline connecting higher lows and a horizontal resistance level. It suggests growing buyer strength, with higher lows forming as selling pressure weakens near resistance.

ETH is trading around $2,740, bouncing off the ascending trendline near $2,460. This signals strong demand at this level, preventing a deeper retracement. The 0.5 Fibonacci retracement level at $2,753 acts as short-term resistance, with a decisive close above it potentially confirming bullish momentum.

The ascending triangle setup traditionally projects a price target by measuring the triangle’s height from its base to the resistance level and adding it to the breakout point. In this case, a confirmed breakout from the pattern gives ETH price a potential target move toward $8,140, a jump of 196% from current levels.

The price target is theoretical and a bit too far-fetched. Yet, moving to the pattern’s upper trendline would bring the ETH price close to $4,000, netting traders substantial gains.

However, failure to sustain support could invalidate the setup, opening downside risks toward the 0.236 Fibonacci retracement level at $2,100. The RSI at 44.47 suggests ETH remains in neutral territory, leaving room for a stronger push higher if buying volume increases.

Traders are watching for a breakout above $3,450 to confirm a bullish continuation, while downside risks remain if ETH loses trendline support. The coming sessions will determine whether Ethereum maintains its bullish structure or faces renewed selling pressure.

Cardano’s Flag Makes It A Key Chart To Watch This Week

Cardano (ADA) has recently experienced a notable 14% increase over the past week, adding approximately $4 billion to its market capitalization. This surge is largely attributed to Grayscale’s filing for a Cardano spot exchange-traded fund (ETF) and discussions of a potential partnership with Microsoft.

ADA is currently trading at $0.795885, reflecting a slight retreat from its daily high of $0.826589.

Analysts are optimistic about ADA’s trajectory, with some forecasting a rise to $7, contingent on ETF approval and increased institutional adoption. Notably, ADA saw $1.9 million in institutional inflows last week, surpassing Ethereum’s outflows during the same period.

While these developments position Cardano as a cryptocurrency to monitor closely, potential investors should consider market volatility before making investment decisions.

ADA’s technical structure supports this outlook. The weekly chart shows a bull flag setup, a continuation pattern where a steep price rally (flagpole) is followed by a downward consolidation (flag) before a breakout. The pattern suggests that after a brief pullback, the trend could resume higher.

The bull flag’s price target is calculated by measuring the flagpole’s height and adding it to the breakout point. In ADA’s case, the recent surge from $0.30 to $0.80 suggests a potential move toward $3.38 if the Cardano token manages to stage a successful breakout.

With rising adoption and strong technical signals, ADA remains a key chart to watch this week as market sentiment shifts in its favor.