Jito (JTO) Continues Its Upside Correction Off the $2.00 Support Level

The crypto market has maintained a significant correlation with BTC today, as the king dipped below the $65,000 and $64,000 price thresholds. However, the Jito token has done the opposite. This coin was able to record some minimal upside movement. Be that as it may, let’s take a much closer look at this market.

JTO Statistics:
Current Jito Price: $2.804
JTO Market Cap: $346,185,461
Jito Circulating Supply: 123,859,853
JTO Total Supply: 1,000,000,000
Jito CoinMarketCap Rank: 149

Key Price Levels:
Resistance: $3.00, $3.500, and $4.00
Support: $2.00, $1.500, and $1.00

Jito Price Action Maintains the Support Formed by the 50-Day EMA

Today’s trading activity in the JTO/USDT daily market has continued above the support level formed by the 50-day Exponential Moving Average (EMA) curves. The green appearance of the corresponding price candle to the ongoing session suggests that upside forces are still in play and may propel the market further up.

At the same time, we can see that the Stochastic Relative Strength Index (SRSI) lines are approaching a crossover above the 60 level of the indicator. The activity on the SRSI indicator hints that upside forces may still deliver some more upside thrust to price movements.

The JTO Market Maintains a Brave Stance Against Headwinds

Likewise, on the Jito 4-hour market, price activity has continued upward above all the EMA lines. However, looking at the corresponding price candle to the ongoing session, one can see that the market has come under some tension. Subsequently, the ongoing session has arrived as a hammer-shaped price candle. Technically, this hints that a bearish reversal may be on the way.

Nevertheless, price action stands above all the EMA lines and at a considerable distance. Likewise, the SRSI indicator lines are still pointed upwards without any deflection above the 80 level of the indicator. This suggests that traders still using bullish crypto signals targeting the $3.00 mark in this market should do so, ensuring proper protection against a bearish reversal.

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