Jito surges on 1000% volume spike – Will volatility stall JTO’s rally?
Jito (JTO) surged 15.96% to $0.3314 with a 1000% spike in trading volume, indicating strong spot demand and renewed market interest. The price exited a descending channel, reclaiming the $0.2775 support and approaching the next resistance at $0.3376. RSI at 63 supports further upside without being overbought. However, spot taker CVD remains sell-dominant, suggesting profit-taking by retail traders. Open Interest surged 89.51%, reflecting increased leveraged positions that could fuel volatility. The breakout shows strength, but sustainability depends on whether buying demand absorbs selling pressure. If not, leveraged unwinding may trigger a sharp pullback.
ambcrypto03/24 11:36
