Cryptocurrency

Bitcoin

Jito

Status

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/jito-cryptocurrency-price-at-breakout-point/" data-wpel-link="internal">Jito Cryptocurrency Price at Breakout Point</a><br></p>
<p style="text-align: justify">The cryptocurrency Jito (<strong>JTO</strong>) price completed a bullish consolidation pattern on March 31, indicating a potential breakout. However, market conditions prevented Jito from sustaining this rally. Now, the Solana-based token is preparing for its second attempt at an upward trend. At this stage, which levels are coming into focus?</p> 
<h2 style="text-align: justify" id="altcoin-jito-jto-price-at-a-critical-juncture">Altcoin Jito (JTO) Price at a Critical Juncture</h2> 
<p style="text-align: justify">The price movement of altcoin Jito between December 9, 2023, and March 16, 2024, formed two round bottom formations. The first structure appears as a cup, and the second as a handle. This situation gives the cup and handle formation its name. The highest swings of these structures can be combined using a trend line to create a horizontal resistance level.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-339044 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/jito-coin-turk-com-.png" alt="" width="1576" height="812"></p> 
<p style="text-align: justify">Technically speaking, breaking above the $3.86 resistance level confirms a breakout from the cup and handle formation. This technical pattern predicts a 55% rally by measuring the depth of the cup and adding it to the breakout point at $3.86, setting a target of $6.</p> 
<h2 style="text-align: justify" id="current-status-of-cryptocurrency-jto-price">Current Status of Cryptocurrency JTO Price</h2> 
<p style="text-align: justify">The cryptocurrency Jito price surged 38% after its initial move above the $3.86 barrier, creating a local peak at $5.32. However, a pullback in altcoins due to <a href="https://en.coin-turk.com/anthony-scaramucci-expects-bitcoin-to-approach-1-million-in-the-next-10-years/" data-wpel-link="internal">Bitcoin</a>‘s retracement caused Jito’s price to retest the $3.86 support level, and it is currently trading at $4.08 with expectations of a higher move.</p> 
<p style="text-align: justify">Both the Relative Strength Index and the Awesome Oscillator are close to their respective average levels of 50 and 0. This suggests a reset could lead to a bounce, placing JTO in a good position to trigger a jump. The only thing needed is a signal from Bitcoin or renewed enthusiasm.</p> 
<p style="text-align: justify">On the other hand, if Jito’s price surpasses and converts the $3.86 support level on the daily chart into a resistance level, it will invalidate the bullish thesis. This move could potentially lead to a 27% correction, bringing the price down to $2.85.</p> 
<p style="text-align: justify">As the cryptocurrency Jito’s price is at a critical turning point, surpassing the $3.86 resistance level could carry the potential to reach a target of $6.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/jito-cryptocurrency-price-at-breakout-point/" data-wpel-link="internal">Jito Cryptocurrency Price at Breakout Point</a></h5>

Jito Cryptocurrency Price at Breakout Point

Table of Contents

COINTURK NEWS

Other articles published on Apr 9, 2024

Crypto Founder Warns Of Burgeoning Bitcoin Fire Sale, Here’s What It Means

Looking For The Next 50X Coin? Here Are The Top 9 Altcoins Not Listed On Binance

Future-Proofing Your Portfolio with Strategic Altcoin Picks

‘Bitcoin’s volatility, a feature, not a bug,’ but why exactly?

Expert Picks: Altcoins to Watch During the 2024 Bull Run

1,000% Anticipation Builds: Raffle Coin’s Presale Strategy to Dominate the Market Gains Massive C...

Join our free newsletter for daily crypto updates!