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

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