Market Overview for Jito/Tether (JTOUSDT) on 2025-09-24

• Jito/Tether (JTOUSDT) fell 1.641 to 1.691 amid mixed momentum, with a bearish reversal seen after a sharp intraday pullback.
• RSI signaled overbought conditions, while MACD showed a bearish crossover late in the session.
• Volatility surged after 4:00 AM ET as price tested a key Fibonacci level, leading to a partial rebound in the afternoon.
• Bollinger Bands expanded during the drop, confirming heightened volatility and a potential reversal scenario.
• Volume spiked during the 15:00–16:00 ET window, coinciding with the 1.691 high and confirming bullish follow-through.

Jito/Tether (JTOUSDT) opened at 1.663 on 2025-09-23 at 12:00 ET, reached a high of 1.702, and closed at 1.674 as of 12:00 ET on 2025-09-24. Total volume for the 24-hour period was 1,323,234.6, with a notional turnover of $219,050.66. The pair exhibited a volatile bearish session, with a key resistance at 1.68 and a support near 1.65.

Structure & Formations

The 15-minute candlestick chart shows a bearish reversal pattern, particularly during the 12:00–15:00 ET window, with a morning breakout followed by a retracement and a potential bullish pin bar at 1.674. A bearish engulfing pattern emerged in the early hours of the morning, indicating a potential top. Key support levels include 1.65 and 1.635, with resistance near 1.68 and 1.70. A potential doji at 1.674 hints at indecision and could act as a short-term reversal signal.

Moving Averages

On the 15-minute chart, the 20-period MA (1.669) crossed above the 50-period MA (1.664), signaling a potential bullish crossover. However, this failed to sustain, and by midday, the 20 MA was at 1.672, while the 50 MA was at 1.668. On the daily chart, the 50-period MA (1.67) and 200-period MA (1.66) indicate a neutral to slightly bearish bias as the price closed near the 50 MA.

MACD & RSI

The MACD line crossed below the signal line in the morning, signaling a bearish crossover that confirmed the price action. The RSI hit an overbought level of 70 midday before retreating, suggesting a possible exhaustion of buying pressure. By the end of the session, the RSI was at 52, indicating a return to equilibrium. The MACD histogram showed negative divergence in the final 30 minutes, supporting a potential short-term bearish continuation.

Bollinger Bands

Price action showed a significant expansion of Bollinger Bands following a sharp decline in the 4:00–5:00 ET window. The price closed near the upper band at 1.68–1.69, signaling a potential exhaustion of the rally. In the morning, the price had traded within a narrow band, suggesting consolidation before the breakout. The current position of the price near the upper band suggests a potential correction or a continuation if buyers hold.

Volume & Turnover

Volume spiked sharply between 15:00–16:00 ET, coinciding with the price hitting 1.691, a key Fibonacci retracement level. This confirmed the breakout and indicated strong buyer interest. However, volume then dropped significantly after 4:00 PM ET as the price retreated. Notional turnover mirrored volume, with a peak of $10,892.77 in the 15:00–16:00 ET window. Divergence between price and volume in the last two hours suggested weakening momentum.

Fibonacci Retracements

Applying Fibonacci to the 1.641–1.702 swing, the 61.8% level was at 1.681, which the price briefly tested before retreating. The 38.2% level at 1.668 provided a key pivot during the afternoon. On the daily chart, the 61.8% retracement of the larger 1.635–1.702 move is at 1.665, close to the current price, suggesting a possible consolidation or reversal area.

Backtest Hypothesis

The backtest strategy focuses on detecting bearish engulfing patterns at key Fibonacci retracement levels, with a stop-loss placed above the high of the formation and a target set at the 61.8% extension. Given today’s price action, the bearish engulfing pattern formed at 1.68–1.674 occurred at a critical 61.8% retracement level. A sell signal would have been triggered on the close of the candle, with a stop above 1.683 and a target at 1.657. This aligns with the observed price decline and could serve as a model for similar setups in volatile altcoin pairs. The RSI and MACD divergence also reinforced the sell signal, adding conviction to the strategy.