Summary
• Price tested 0.361–0.363 support with bearish momentum.
• Sharp decline in final hours pushed RSI into oversold territory.
• Volatility spiked during 20:00–22:00 ET with a high-volume pullback.
• Key resistance appears at 0.375–0.377, with potential for consolidation.
• Bollinger Band contraction suggests potential breakouts or breakdowns ahead.
Jito/Tether (JTOUSDT) opened at 0.376 at 12:00 ET–1 and traded between 0.361 and 0.382 before closing at 0.362 at 12:00 ET. Total volume was 613,824.0, with turnover of $217,603.14.
Structure & Formations
Price formed a bearish engulfing pattern near 0.375, followed by a long bearish tail during the final 45 minutes of the window. A 0.361–0.363 support zone was clearly tested, with a rejection that could indicate short-term floor strength. No clear reversal doji emerged, but a series of small bearish bodies suggest weakening buyers.
Moving Averages
The 20-period and 50-period moving averages on the 5-minute chart crossed below key swing highs, confirming bearish momentum. Daily chart averages (50, 100, 200) are still well above current levels, suggesting potential for a deeper pullback or consolidation before a rebound.
MACD & RSI
MACD showed a bearish crossover near 0.375, with negative divergence in the final hours. RSI dropped below 30 into oversold territory, hinting at possible short-term buying interest, though bullish confirmation will require a sustained close above 0.368.
Bollinger Bands
Price moved close to the lower Bollinger Band during the last 90 minutes of the session, with volatility widening after a period of contraction between 18:00 and 20:00 ET. This suggests a potential reversal or continuation could be imminent.
Volume & Turnover
Volume spiked during the 20:00–21:45 ET window, particularly near the 0.378–0.379 resistance. Notional turnover confirmed the bearish breakdown after 22:00 ET, with the 0.361–0.363 level attracting the most trading activity.
Fibonacci Retracements
A key 61.8% retracement level from the 0.361–0.382 swing is around 0.370, currently acting as a pivot. Daily Fibonacci levels from recent bearish moves suggest a possible target near 0.355 if the current trend continues.
JTOUSDT appears to be in a short-term bearish phase with oversold conditions creating potential for a bounce. However, without a clear breakout above 0.375, a test of key support below 0.361 remains a risk. Investors should monitor 0.368–0.370 for near-term turning points.
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