Market Overview for Jito/Tether (JTOUSDT): 24-Hour Analysis

• JTOUSDT closed lower at $1.54 after hitting $1.644 earlier, signaling a strong pullback.
• Momentum weakened as RSI dropped below 40, hinting at potential oversold conditions.
• Volatility expanded during the sell-off, with Bollinger Bands widening from $1.62 to $1.54.
• Volume spiked near key resistance at $1.636–$1.644, then dried up during the decline, suggesting rejection.
• Fibonacci retracement levels indicate 61.8% support around $1.58–$1.59 could hold.

Jito/Tether (JTOUSDT) opened at $1.605 on 2025-10-08 12:00 ET, reached a high of $1.644, dipped to a low of $1.54, and closed at $1.54 at 12:00 ET on 2025-10-09. Total volume for the 24-hour period was 698,760.0, with notional turnover of $1,108,470. The price action reflects a sharp reversal from bullish momentum to bearish pressure.

Structure & Formations

The 15-minute chart shows a clear bearish reversal pattern after a key resistance level at $1.636–$1.644 was tested multiple times without a break. A strong bearish engulfing pattern formed around $1.636 on 2025-1008 21:30, signaling exhaustion. A doji near $1.625 at 00:45 ET also indicated indecision. A large bearish candle at $1.598–$1.586 on 08:15 ET marked the beginning of a sharp decline. Key support levels include $1.58–$1.59 (61.8% retracement) and $1.54–$1.55 (swing low), which may offer temporary floor levels.

Moving Averages

On the 15-minute chart, the 20- and 50-period moving averages are in a downward trend, aligning with the bearish bias. On the daily timeframe, the 50-day MA is at $1.60, and the 100- and 200-day MAs are above $1.62, which means the price is below key long-term support levels. The 50/100 MA crossover has not occurred, indicating a lack of immediate reversal momentum.

MACD & RSI

The RSI dropped to 35 by 09:00 ET, suggesting the pair is near oversold territory, but failed to trigger a rebound. The MACD crossed below the signal line in the morning session and remained negative, confirming bearish momentum. A potential short-term bounce may occur, but without a sustained RSI rebound above 40, the bearish bias remains intact.

Bollinger Bands

Bollinger Bands expanded significantly during the selloff, with the lower band dropping to $1.54–$1.55. The price remains outside the lower band, indicating heightened volatility. A consolidation period inside the bands would be needed for a potential reversal. The recent expansion suggests traders should be cautious about range re-entry strategies until volatility normalizes.

Volume & Turnover

Volume was concentrated near the high of $1.636–$1.644, with strong buying pressure at 21:30 and 00:15 ET. However, volume sharply declined during the selloff after 08:15 ET, indicating weak follow-through from short-sellers. The volume-to-price divergence suggests exhaustion on the short side but does not confirm a reversal. A strong follow-through bar above $1.636 with increased volume may signal a bullish test.

Fibonacci Retracements

Fibonacci retracements show the $1.636–$1.644 swing as a key resistance zone. The 61.8% retracement of the $1.54–$1.644 move is at $1.58–$1.59, which acted as a support during the late ET session. A breakdown below $1.54 would target the next Fibonacci level at $1.49–$1.50, based on the 78.6% extension. The 50% retracement at $1.59 is a critical level to watch for a potential bounce.

Backtest Hypothesis

Using the described backtest strategy, a long-biased signal could be generated on a bullish engulfing pattern above the 50-period MA, coupled with a RSI rebound above 40 and volume confirmation. A short bias would trigger on a bearish engulfing pattern below the 50-period MA, with RSI below 40 and divergence between price and volume. For JTOUSDT, the recent bearish engulfing pattern near $1.636 and the oversold RSI suggest a potential short trade with a stop above $1.636. A long trade would require a strong reversal above $1.636 with RSI and volume confirmation.