JTO trades at $2.32, nearing the key resistance level of $2.36 after a 9.59% daily gain.
Trading volume hit $69.34M (8.84% of market cap), signaling strong spot-driven demand.
Price breakout from descending trendline and consolidation zone suggests potential for further upside.
JTO is trading at $2.32 after registering a 9.59% gain in the last 24 hours. The move has the token trading just below a significant resistance at $2.36, a level that has repeatedly capped upside momentum in recent months. The nearest support level, on the other hand, is established at $2.09, offering a structural floor in the event price action retreats in the near term.
Source: CoinMarketCap
The stock has also seen a large jump in volume. The volume of the past 24 hours was 69.34 million dollars, approximately 8.84% of its 787.47 million dollars market cap. Such an increase in volume reflects growing investor interest because JTO is prone to a critical breakout point.
Technical Pattern Points Toward Breakout Potential
The price chart shows a series of failed rallies capped by a descending trendline. However, the latest movement suggests a break from this trend, with the price moving decisively above key horizontal resistance bands.
This rally is breaking out with heavy volume, which confirms the technical strength of this movement. In case JTO overcomes the resistance at 2.36 and proceeds further, higher levels like not witnessed since early 2024 are possible.
Source:(X)
It’s also notable that this surge follows a prolonged consolidation period between $1.85 and $2.10, adding strength to the argument that the breakout attempt may be sustainable if buying interest holds.
JTO Eyes $2.36 as Spot Demand Fuels Uptrend
According to current data, JTO has a circulating supply of approximately 338.62 million tokens out of a total of 999.99 million. The market cap sits at $787.47 million, with the fully diluted valuation at $2.32 billion.
This relatively low circulating-to-total supply ratio leaves room for future dilution, though the current rally appears driven by spot demand rather than token emissions. In the context of broader market recovery, the move toward the $2.36 resistance is attracting attention.
If volume remains elevated and resistance is cleared, price action may accelerate. For now, all eyes are on whether the asset can maintain this upward pressure beyond the key level.
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