Summary
•
formed a bullish engulfing pattern near 0.329, signaling a possible short-term reversal.
• Price remained below the 20-period and 50-period moving averages, suggesting continued bearish bias.
• Volume surged during the 13:45–14:00 ET window, coinciding with a strong rally to 0.344.
• RSI hovered near oversold territory for much of the day, hinting at potential for a rebound.
• Bollinger Bands widened during the late ET hours, reflecting increased volatility and price momentum.
Jito/Tether (JTOUSDT) opened at 0.343 at 12:00 ET–1 and traded as high as 0.347 before closing at 0.340 at 12:00 ET. Total volume reached 2,291,895 units with a notional turnover of approximately $782,615.
Structure and Key Levels
Price encountered strong resistance near 0.344–0.347 and found support at 0.330–0.333, forming a consolidation pattern.
A bullish engulfing pattern emerged near 0.329, suggesting potential for a short-term bounce.
Moving Averages and Momentum
The 20- and 50-period moving averages remained above the close, indicating ongoing bearish pressure. However, a late ET rally pushed the price above the 20-period MA briefly, which could fuel optimism if it holds. RSI approached oversold levels earlier in the session, now trending sideways in neutral territory.
Volatility and Volume
Bollinger Bands expanded significantly during the 13:45–14:00 ET window, coinciding with a sharp volume spike of 229,189.5 units. This breakout saw JTOUSDT climb to 0.344, though it later faced profit-taking.
Future Outlook and Risk
JTOUSDT may test the 0.344–0.347 resistance zone again, with a potential pullback to 0.330–0.333 as a key support area to watch. A break above 0.344 could signal renewed bullish momentum, but traders should be cautious of possible bearish follow-through if volume fails to confirm.
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