Market Overview for Jito/Tether USDt (JTOUSDT)

• Price opened at 1.841, reached a high of 1.857, and closed at 1.830 after 24 hours.
• A notable 1.847–1.851 consolidation zone was tested and rejected by bears.
• Volatility increased in late-night hours, with sharp price swings and volume spikes.
• RSI signaled overbought conditions at 1.851, followed by a bearish correction.
• Bollinger Bands expanded during the breakout attempt, indicating rising volatility.

Jito/Tether USDt (JTOUSDT) opened at 1.841 on 2025-09-05 at 12:00 ET and closed at 1.830 on 2025-09-06 at 12:00 ET, with a 24-hour high of 1.857 and a low of 1.826. Total volume reached 237,468.3 units and turnover amounted to 430,624.6 USD. The price action reflects a volatile session with key turning points in late-night and early morning hours.

Structure & Formations

The price formed a bullish engulfing pattern at 1.84–1.851 in early evening hours before bears retook control with a bearish engulfing pattern in the 1.852–1.845 range. A doji formed near 1.843 in the early morning, signaling indecision. Resistance levels include 1.847, 1.851, and 1.857, while key support levels are 1.833, 1.829, and 1.826. A test of the 1.826 level in the early morning confirmed it as a short-term support.

Moving Averages

On the 15-minute chart, the 20-period MA (1.843) and 50-period MA (1.841) were crossed by the price in both bullish and bearish directions, suggesting a choppy, sideways environment. The 50-period MA (1.842) on the daily chart provided a baseline for short-term traders, with the 200-period MA (1.840) acting as a longer-term floor. The price remained below the 100-period MA (1.844), reinforcing bearish momentum.

MACD & RSI

The MACD line showed a bearish crossover in the 1.847–1.843 range, aligning with the bearish price move. RSI peaked at 78 near 1.851, signaling overbought conditions, followed by a sharp decline toward 52–55 in the 1.830–1.836 range, indicating oversold conditions. The RSI divergence between the price and oscillator suggests potential for a rebound from the 1.830 level.

Bollinger Bands

Bollinger Bands expanded significantly during the breakout attempt at 1.851, with the price moving above the upper band. This expansion confirmed rising volatility and uncertainty. In the early morning, the price settled back inside the bands, hovering near the lower band at 1.830, suggesting a temporary stabilization of short-term bearish pressure.

Volume & Turnover

Volume surged during the breakout attempt (1.847–1.851) and during the 1.84–1.835 consolidation period. Notional turnover spiked at key inflection points, aligning with price swings. A divergence occurred in the 1.831–1.836 range, where volume decreased despite a modest price increase, suggesting weaker conviction in the bullish move.

Fibonacci Retracements

Fibonacci retracement levels applied to the 1.826–1.857 swing identified key levels of interest: 38.2% (1.845), 50% (1.841), and 61.8% (1.837). The price rejected 61.8% (1.837) and settled near the 1.830 level in the early morning, signaling a possible short-term bottoming process.

Backtest Hypothesis

The backtesting strategy described involves entering long positions on a bullish engulfing pattern forming above the 15-minute 20-period MA, with a stop-loss placed below the pattern’s low. A short position is triggered on a bearish engulfing pattern forming below the 20-period MA, with a stop-loss above the pattern’s high. Given the observed 1.84–1.851 bullish engulfing and the subsequent bearish engulfing at 1.852–1.845, these setups were present and may have triggered both entries. The 1.826 low could act as a confirmation for the short position if retested with bearish conviction.