Jito/Tether Market Overview – 2025-10-07

• Jito/Tether (JTOUSDT) declined sharply from $1.694 to $1.566 in 24 hours, ending near intraday lows.
• Momentum weakened significantly, with RSI hitting oversold territory and MACD diverging bearishly.
• Volatility expanded through widening Bollinger Bands, with price consolidating near lower bounds.
• Volume surged during the sell-off but showed divergences with price during late-day rebounds.
• Fibonacci levels at $1.634 and $1.581 are key for near-term reversal or continuation cues.

Jito/Tether (JTOUSDT) opened at $1.671 on 2025-10-06 12:00 ET, reaching a high of $1.694 before closing at $1.635 as of 2025-10-07 12:00 ET. The 24-hour low was $1.566, with total volume of 1,451,754.2 units and turnover of $2,390,756. The pair faced aggressive selling pressure, especially after 06:45 ET, and now trades near multi-day lows.

Structure & Formations

The price action over 24 hours displayed a strong bearish trend, characterized by a deep breakdown from $1.694 to $1.566. Several notable formations were observed, including a bearish engulfing pattern at $1.692 and a long-legged doji at $1.684, indicating indecision after a sharp drop. Support levels formed at $1.671 and $1.640, with resistance now at $1.676 and $1.685. A consolidation pattern emerged after 06:45 ET as price approached $1.640, potentially signaling a near-term pivot.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both remained above the price, confirming bearish bias. On the daily chart, the 50-period MA crossed below the 200-period MA, forming a death cross that reinforces the downward trend. The 100-period MA at $1.667 acts as a critical line to watch, as a retest could confirm further bearish momentum or trigger a short-term bounce.

MACD & RSI

The MACD histogram expanded negatively during the sell-off, with the line crossing below the signal line and remaining bearish. The RSI reached 29 at the 24-hour low, suggesting oversold conditions, though without a convincing reversal yet. A move above $1.65 could see the RSI rebound into the 30–40 range, indicating potential short-term stabilization.

Bollinger Bands

Volatility expanded significantly after the breakdown, with the lower band tightening around $1.566 and the upper band reaching $1.696. Price has spent the last several hours consolidating near the lower band, which may either lead to a bounce or signal a deeper decline if the trend continues.

Volume & Turnover

Volume surged during the bearish wave from $1.694 to $1.598, with a peak of 378,080 units in the candle ending at $1.599. However, recent volume has decreased despite minor price recovery, suggesting waning conviction among sellers. Turnover diverged from price during the late-day rebound, with volume trailing off even as price edged higher—this could be a sign of shallow buying interest.

Fibonacci Retracements

Key Fibonacci levels derived from the $1.694 to $1.566 move are at 38.2% ($1.640), 50% ($1.630), and 61.8% ($1.620). The 38.2% level is acting as a critical pivot. A retest of $1.640 may see a bounce, but a break below $1.620 would target $1.598. On the daily chart, the 50-period retracement from the prior high is at $1.685 and could mark a key resistance ahead of a potential rebound.

Backtest Hypothesis

The backtest strategy assumes that a combination of RSI oversold signals and Bollinger Band tightness could signal a high-probability mean reversion trade. A long entry could be triggered when RSI crosses above 30 and price breaks the upper band, with a stop loss below the recent swing low. This aligns with the observed price behavior around $1.640. Testing this setup against similar prior 15-minute patterns would help determine its reliability in this volatile market.