Jito (JTO) Eyes the $3.00 Price Mark

The Jito coin has seen a price increase of over 6% today. This was sufficient to keep the coin trading above a critical technical level. As a result, this coin has managed to preserve bullish hopes of the market breaking the next technical resistance price level.

JTO Statistics:

Jito Price: $2.894

JTO Market Capitalization: $381M

JTO Circulating Supply: 131.07M

Jito Total Supply: 1B

JTO CoinMarketCap Rank: 157

Key Price Levels:

Resistance: $3.000, $3.500, $4.000

Support: $2.500, $2.00, $1.500

Jito Daily Market Rebounds Off Critical Support

Price action in the JTO 24-hour market has been trading above the Moving Average Ribbons for a while now. During this time, the market has been oscillating between $2.700 and $3.250. However, more recently, the market had rebounded off the support at the 200-day MA line.

The ongoing session has recorded a price increase that suggests the market is heading toward the $3.00 resistance price level. Albeit, the Stochastic Relative Strength Index (RSI) lines can be seen still plunging into the oversold region. Technically, this presents a dilemma to traders as they will have to rely on events on the price chart, hoping that the Stochastic RSI will align as bullish momentum increases.

JTO Seems Poised for Continuation of its Upside Retracement

In the Jito 4-hour market, price action has been retracing higher price levels since the past two sessions. Consequently, this has kept the market on a three-session upside retracement. As a result, the coin now trades above all the MA lines on the 4-hour chart. Meanwhile, the price candle here has an upper shadow that suggests downward forces are restricting upside progress in the ongoing session.

Nevertheless, the Stochastic RSI lines can be seen still rising sharply upward without a deflection. Technically, this supports the impression that the uptrend is still on. Consequently, using crypto signals to eye a breakthrough of the $3.00 resistance price level toward the $3.500 mark may be quite useful.

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