Market Overview for Jito/Tether (JTOUSDT) on 2025-11-08

Summary
• Price surged from 0.799 to 0.853 before consolidating near 0.837.
• Volume spiked during the 0.84–0.854 range, suggesting strong accumulation.
• RSI briefly entered overbought territory, hinting at potential short-term pullback.

Jito/Tether (JTOUSDT) opened at 0.799 on 2025-11-07 12:00 ET and closed at 0.803 on 2025-11-08 12:00 ET, reaching a high of 0.854 and a low of 0.794. Total volume was 2,031,124.3 contracts, while notional turnover amounted to approximately $1,660,516. The 24-hour period saw a volatile yet structured price action, with clear support and resistance levels emerging.

Structure & Formations

Price formed a bullish engulfing pattern around 19:45 ET before consolidating in a tight range between 0.834 and 0.846 in the final hours. A small bearish doji emerged at 04:45 ET, signaling indecision. Key support levels include 0.821 and 0.801, while resistance remains at 0.846 and 0.854. A breakout above 0.854 may trigger further buying interest.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed above the price during the morning hours, suggesting short-term bullish momentum. However, the 50-period MA began to pull back into the 0.83–0.835 range by midday, indicating possible exhaustion. On the daily chart, the 50 and 200-period MAs appear to be converging around 0.82–0.825, supporting the possibility of a short-term pullback.

MACD & RSI

MACD showed a bullish crossover at 02:30 ET and remained positive until 04:45, aligning with the price’s 0.83–0.846 consolidation phase. RSI peaked at 72 (overbought) during the 0.842–0.854 high and has since pulled back to mid-50s. This suggests the pair could face profit-taking or consolidation before resuming upward momentum.

Bollinger Bands

Volatility expanded from 02:30 to 04:45 ET, with price reaching the upper band at 0.854. Since then, the bands have narrowed slightly, indicating reduced volatility and potential for a breakout. Price remains above the 20-period Bollinger midline, reinforcing a bullish bias in the short term.

Volume & Turnover

Volume increased sharply during the 0.84–0.854 consolidation phase, confirming strong buying interest. Turnover also spiked during this time, validating the volume surge. However, a divergence appears after 05:00 ET, where price continued higher while volume declined, suggesting caution for traders expecting a continuation.

Fibonacci Retracements

Fibonacci levels at 38.2% (0.835) and 61.8% (0.846) were tested multiple times. Price found support at 0.835 and resistance at 0.846 before retreating. A close above 0.846 would target the 78.6% level at 0.852, potentially extending the rally.

Backtest Hypothesis

To test the RSI-based strategy for JTOUSDT, we need to confirm the exact parameters: using the 14-period RSI with an overbought threshold of 70. This would allow us to identify potential sell signals when RSI exceeds 70, and buy signals when it dips below 30 (oversold). Backtesting from 2022 to 2025 would help assess the strategy’s viability in capturing short-term momentum swings in this volatile pair.