Market Overview for Jito/Tether (JTOUSDT)

Summary• Price fluctuated between $0.784 and $0.849 with a final close near $0.786.
• High volatility observed early in the session with a subsequent pullback.
• Volume peaked during late-night trading, with notable divergences in price and turnover.

Jito/Tether (JTOUSDT) opened at $0.815 on 2025-11-03 at 12:00 ET, reached a high of $0.849, and closed at $0.786 as of 12:00 ET on 2025-11-04. The total traded volume over the 24-hour period was 2,154,356.6 units, with a total turnover of $1,630,475.50. The pair displayed a bearish bias and significant price swings, suggesting increased sensitivity to market sentiment.

Structure & Formations

Price action revealed a bearish exhaustion pattern in the final hours of the session, with a deep pullback below key prior support levels. Notable bearish engulfing patterns appeared in the last candle of the session, confirming bearish momentum. A key resistance at $0.823 and support at $0.802 were tested multiple times, with the latter showing increasing vulnerability.

Moving Averages

On the 15-minute chart, the 20-period MA and 50-period MA crossed bearishly in the final hours, suggesting continued downward pressure. On the daily chart, the 50-period MA crossed below the 200-period MA, signaling a potential shift to a bearish trend.

MACD & RSI

The MACD turned negative in the last hour, with bearish divergence forming between price and momentum. RSI fell into oversold territory at one point, but failed to generate a bullish reversal, indicating weak follow-through buying.

Bollinger Bands

Volatility expanded during the early morning hours, with price reaching the upper band before collapsing to the lower band. This contraction and expansion suggest a volatile environment, and price sitting near the lower band indicates a potential continuation of the bearish trend.

Volume & Turnover

Volume spiked during the early morning trading session, particularly around 03:45 ET when the pair surged to $0.844. Turnover confirmed this spike, but later diverged from price as turnover declined while the price continued to fall. This divergence suggests weakening conviction in the bullish phase.

Fibonacci Retracements

Fibonacci levels on the recent 15-minute swing from $0.784 to $0.849 showed key levels at 38.2% ($0.819) and 61.8% ($0.809). Price tested these levels multiple times, with a breakdown below 61.8% confirming bearish sentiment. On a daily basis, the 61.8% retracement from the swing high at $0.849 is now at $0.794, a level currently under test.

Backtest Hypothesis

The suggested backtest strategy aims to leverage the recent volatility and Fibonacci levels for potential short entries. Given the bearish divergence in RSI and the breakdown below key Fibonacci levels, a strategy could target short positions on breakouts below $0.809 with a stop just above $0.819. The 20/50-period MA crossover on the 15-minute chart can act as an entry confirmation. Exit signals could be triggered on a close above $0.819 or after a defined time horizon, with risk management through a tight stop-loss.