Market Overview: Jito/Tether (JTOUSDT) – 24-Hour Summary and Technical Outlook

• Jito/Tether (JTOUSDT) closed 24 hours at 1.861, down from 1.876, amid bearish pressure below key resistance levels.
• Price action revealed multiple bearish engulfing patterns and a failed rally above 1.88, signaling bearish momentum.
• Volatility expanded during the session, with a peak-to-trough range of 1.885 to 1.84, and turnover surged during sharp declines.
• RSI and MACD indicate overbought conditions were reversed, suggesting potential for further consolidation or pullbacks.
• Bollinger Bands showed price hovering near the lower band, signaling bearish bias and potential for a mean reversion attempt.

Jito/Tether (JTOUSDT) opened at 1.876 on 2025-09-20 at 12:00 ET and closed at 1.861 on 2025-09-21 at 12:00 ET, reaching a high of 1.885 and a low of 1.84. The 24-hour volume was 862,820.5, and turnover totaled $1,559,517.30. Price action was bearish overall, with a clear decline toward key support levels.

Structure & Formations

The price formed several bearish patterns during the session, including a bearish engulfing pattern around 1.875–1.882 and a hanging man at 1.882–1.884. A failed rally above 1.885 and a breakdown below 1.87 support confirmed bearish sentiment. Key support levels are now at 1.858 and 1.845, with resistance at 1.87 and 1.884.

Moving Averages

The 15-minute chart shows the price below the 20- and 50-period moving averages, reinforcing the short-term bearish bias. On the daily chart, JTOUSDT remains below the 50, 100, and 200-period moving averages, indicating a prolonged bearish trend.

MACD & RSI

MACD remained bearish with a negative histogram and a downward crossover, suggesting continued downward pressure. RSI bottomed out near 30 on the daily chart and dipped below 40 on the 15-minute chart, indicating oversold conditions and potential for a short-term bounce. However, the absence of a strong bullish crossover in MACD suggests a cautious approach to rebounds.

Bollinger Bands

The price traded near the lower Bollinger Band for much of the session, signaling increased volatility and bearish pressure. A contraction was observed around 1.862–1.864 before the bands widened again, hinting at a potential breakout attempt to the downside. Traders may watch the 1.861–1.865 range for a potential reversal or continuation.

Volume & Turnover

Volume spiked sharply during the selloff from 1.885 to 1.85, with the largest 15-minute candle showing a volume of 143,656.5 and a price drop of 0.04. This volume confirmed the strength of the bearish move. Turnover also increased during the same period, showing alignment with price action. A divergence in volume and price is not evident, suggesting the current trend is well-supported.

Fibonacci Retracements

On the 15-minute chart, the price tested the 61.8% Fibonacci retracement level at 1.867 during its rebound from 1.855. It then declined again, failing to hold the 50% retracement at 1.864. On the daily chart, the 61.8% level is at 1.865, which has become a critical level for near-term direction. A break below 1.848 may target the 78.6% retracement at 1.835.

Backtest Hypothesis

A potential backtest strategy could involve entering short positions on a breakout below key Fibonacci levels confirmed by a bearish MACD crossover and RSI divergence. Stops could be placed above the 1.87–1.88 resistance zone, while targets could be aligned with the next Fibonacci level at 1.845. This hypothesis leverages the observed confluence of indicators and price action to manage risk and reward.