JTO experienced a breach of a descending long-term trendline, which indicates a possible change in the direction of its price.
The short-term trend will be defined by a break / rejection at immediate resistance ($2.40), and now firm support ($1.99).
As volatility builds up around area of resistance, traders are either locking in profits or sliding stop-losses to break even
JTO has registered impressive gains over the last 24 hours, rising by nearly 15% to trade at press time at around $2.30. The surge has placed the token in a highly crucial price area, and depending on this, its medium-term trend could shift. The surge occurs as the broader market stabilizes in order to allow altcoins regain lost territory.
JTO Breaks Long-Term Trendline Amid Rising Volume
Price action shows JTO has broken through a downward resistance line effective since mid-2023. The technical ceiling was overcome just as the token regained momentum above the $1.99 support zone ,a price point that previously acted as a pivot level during periods of volatility. The breakout was supported by increasing volume, a sign that buying interest may be returning to the market after months of sideways consolidation, analysts say.
JTO Near Resistance as Traders Reduce Exposure
The intraday price range of 24 hours shows a low of about $2.01 and a high of $2.40, documenting strong intraday volatility. The $2.40 level is now in the role of immediate resistance. Traders are waiting closely for this area, as a clean break above might set the road towards the short-term $3.00–$3.20 zone open. On the other hand, $1.99 level is now seen as a key support; a breakdown below this could negate the breakout thesis and take the stock down to $1.80 in a pullback.
Source; (X)
Some of the high-leverage traders have been reported taking partial profits at current levels, due to the greater uncertainty in resistance. In the meantime, holders of spot positions have apparently shifted their stop-losses into break-even mode, a method of risk protection that protects capital in the event of a sudden reversal.
JTO Outlook Hinges on Breakout Confirmation
Although the chart set up indicates a continuing bullish momentum, confirmation is still needed. Evidence of higher volume and a strong close daily candle above $2.40 would strengthen the possibility of further pick up. Alternatively, failure to stay above $2.20 could be an indication of exhaustion. As JTO navigates this crucial juncture, traders appear to be balancing optimism with caution.
The post JTO Price Surge Breaks Barrier, Eyes $3 After Clearing $2.40 Hurdle appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
