bullish

Solana

<p>As the bullish trend in the broader market continues, the Solana-based altcoin, Jito, faces a sharp pullback. As the JTO price drops under the $3.50 crucial milestone, the buyers are under panic.&nbsp;</p>   
<p>Will a double top reversal result in a pullback to the $2.68 support level? Let's find out in our latest JITO price analysis.</p>   
<h2 class="wp-block-heading" id="h-jto-price-analysis">JTO Price Analysis</h2>   
<p>In the daily chart, the JTO price trend continues a bullish rally of higher high formation. However, the intraday drop of 7.87% has warned of a sharp pullback.</p>   
<figure class="wp-block-image size-large">
 <img src="https://image.coinpedia.org/wp-content/uploads/2024/12/02173056/N4oYCDm4-1024x481.webp" alt="JTO Price Analysis" class="wp-image-387998">
</figure>   
<p><a href="https://www.tradingview.com/x/N4oYCDm4/" target="_blank" rel="noreferrer noopener">Tradingview</a></p>   
<p>Currently, the JTO price is trading at the psychological mark of $3.50, with the bearish engulfing candle crossing under the 50% Fibonacci level. The bearish engulfing candle undermines the bullish recovery over the last four days and warns of a bearish extension.&nbsp;</p>   
<p>The immediate support for the JTO price is $3.18, the 38.20% Fibonacci level. The trendline breakout rally continues to form higher highs.&nbsp;</p>   
<p>However, the pullbacks have been intense, with the previous one dropping from $3.18 to $2.68 in the second week of November. Furthermore, the current rejection from the $3.80 warns of a double top reversal.&nbsp;</p>   
<p>The neckline for the bearish pattern is at $3.45. Hence, a closing below this level will increase pressure over the $3.18 support level.&nbsp;</p>   
<h3 class="wp-block-heading" id="h-technical-indicators">Technical Indicators</h3>   
<p>MACD: Supporting the chances of a bearish turnaround, the MACD and signal lines are merged and warn of a negative crossover.</p>   
<p>EMA: The dynamic average support lines of the 20, 50, and 100-day EMA are rising higher. The immediate dynamic support is provided by the 20-day EMA at $3.35. However, the significant support remains at the 50D EMA at $2.93.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-will-jto-price-cross-3-18">Will JTO Price Cross $3.18?</h2>   
<p>In case of a bullish turnaround from the crucial dynamic average lines, the Fibonacci level swains the price target at the $4 psychological mark. However, the massive supply at $3.80 must be surpassed before the JTO price continues the higher high trend.</p>   
<p>Considering the broader market recovery, the JTO price could reach the $5.33 mark by the end of December if the support at $3.18 persists. In case of a bearish breakdown, the JTO price could retest the 100-day EMA at $2.70.</p>   
<p>As Solana crosses $200, how high will the SOL price go in 2024? Check out Coinpedia’s <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/" target="_blank" rel="noreferrer noopener">Solana price prediction</a> to find price targets above $100.</p>   
<h2 class="wp-block-heading" id="h-faqs">FAQs</h2>   
<div class="schema-faq wp-block-yoast-faq-block">
 <div class="schema-faq-section" id="faq-question-1733140780066">
  <strong class="schema-faq-question">What is the current resistance for JTO?</strong> 
  <p class="schema-faq-answer">The key resistance is at $3.80, with $4 as the next psychological target.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1733140785235">
  <strong class="schema-faq-question">What is the crucial support level for JTO?</strong> 
  <p class="schema-faq-answer">Immediate support is at $3.18, with significant support at the 50-day EMA at $2.93.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1733140785552">
  <strong class="schema-faq-question">What signals indicate a potential bearish move?</strong> 
  <p class="schema-faq-answer">The MACD warns of a negative crossover, and a close below $3.45 could trigger a double-top breakdown.</p> 
 </div> 
</div>

JTO Price Analysis: Will $3.18 Support Hold Amid Bearish Signals?

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