Jito (JTO) Modest Gains Keep Bulls Relevant - learn2trade
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Jito (JTO) Modest Gains Keep Bulls Relevant

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Azeez Mustapha

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A price increase of 3.98% has emerged in today’s session. Although this move places JTO second on the list of top-performing coins for the day, technical signals suggest that price action may be on the verge of a notable move.

JTO Statistics

Current Price: $0.446

Market Capitalization: $187.16M

Circulating Supply: 421.9M

Total Supply: 996.23M

CoinMarketCap Rank: 166

Key Levels

Resistance: $0.500, $0.600, $0.700

Support: $0.400, $0.300, $0.200

Jito (JTO) Modest Gains Keep Bulls Relevant

Jito Hugs the 9-Day EMA Curve

The previous session produced a dip below the 9-day Exponential Moving Average. However, the current session has opened the door for upside momentum. The latest price candle is pushing the market back toward the 9-day EMA curve.

Meanwhile, the Stochastic Relative Strength Index (SRSI) lines are still dipping toward the oversold region. Therefore, traders may need to exercise a bit more patience before taking a more bullish stance in this market.

Jito (JTO) Modest Gains Keep Bulls Relevant

JTO Market Timidly Approaches a Key Resistance

On the Jito 4-hour chart, price action can be seen slowly making its way toward the 9-day EMA curve. This movement has persisted for four sessions, with the ongoing session showing thin bullish sentiment. As a result, price action remains below the 9-day EMA.

Jito Will Reward Early Adopters

@DrNickA will be breaking down JIP31—a proposal aimed at rewarding early adopters by directing all Jito protocol revenue to BAM validators.

Validators with questions about the scheme (or programme, as the Doctor prefers) will definitely want to tune in.

JTO Market Timidly Approaches a Key Resistance (Continued)

Furthermore, the SRSI indicator lines are beginning to push slightly upward from the oversold region. The terminal ends of the indicator are starting to diverge as they rise from the oversold zone.

However, the appearance of the most recent price candle suggests lingering weakness in upside momentum. As it stands, traders may wait for price action to move decisively above the 9-day EMA before targeting the $0.550 or $0.600 price levels.

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