Alert with $JTO /USDT! 🚨 We are seeing an interesting movement, but we need to keep a cool head.
The price is at $1.698, with a 24h high of $1.705. The 1-hour chart shows that JTO is making an effort to regain ground! It has managed to bounce back from $1.531, which seems to be an important support level. The moving averages (MA7 at $1.659 and MA25 at $1.658) are below the current price, which is a short-term bullish signal, looking to confirm a rally!
But, watch out for the money flow! 🚩 Although the price seems to be rising, in the last hour we have 82.66% sell orders versus 17.34% buy orders. This is a divergence we cannot ignore! The large sell orders are at $2,229.20, while there are no large buy orders. Additionally, the money flow over 5 days is -$400,798.80, indicating that despite the bounces, the "smart" or large money has been flowing out. This could be a bullish trap, a kind of manipulation to get small investors in while the big players unload their positions.
So, even though the chart looks promising, we must be cautious! The buying volume is low and the money flow remains predominantly negative. If the price fails to hold above the moving averages and we see a significant increase in buying volume and a change in money flow, then we could consider a stronger move. For now, keep a close eye on that volume and the trend of big money. Patience is key to avoid falling into the trap!
