Here’s a quick technical analysis of $JTO
/USDT based on the current data:🔥💯
Technical Analysis
Current Price: $3.32 (after a 5.62% increase in 24h)
Trend: Bullish short-term momentum, given the positive 24-hour price action.
Resistance Levels:
1. $3.37 (24h high and previous resistance)
2. $3.42 (potential resistance from past price action)
3. $3.50 (psychological and round number resistance)
Support Levels:
1. $3.21 (recent 24h low, strong support area)
2. $3.13 (support tested earlier)
3. $3.05 (near previous low)
Trade Signal (Buy):
Entry: Around $3.32 or if price drops closer to $3.21 (after retesting support)
Targets (TP - Take Profit):
1. Target 1: $3.37 (immediate resistance)
2. Target 2: $3.42 (next resistance zone)
3. Target 3: $3.50 (major psychological level)
Stop Loss: Place a stop below $3.20 to protect from a deeper retracement.
Momentum:
Bullish Momentum: As the price is above key moving averages and showing an upward breakout, with higher trading volumes confirming increased interest. However, keep an eye on resistance zones for price action shifts.
This strategy capitalizes on the bullish momentum, aiming for short-term gains while setting stop-loss to minimize risk. Always remember to review the price action at resistance levels before committing.