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JTO / TetherUS

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JTOUSDT trade ideas

JTO/USDT - excellent breakoutBINANCE:JTOUSDT with an excellent breakout this week. Thanks to @bluefox1976 for pointing this one out a few weeks ago. Like a lot of new alts, JTO spiked after listing and then went into a decline followed by a consolidation. We took a fib time zone from the 12/14/23 high to the 12/18 low and price pivots have aligned nicely. A small base formed between 1/3 and 1/8 with a breakout yesterday that lined up perfectly with the time zone. I anchored a volume weighted average price anchored to 1/3 where the consolidation started. We'll look for this to hold as support, exiting if we fall 1 ATR below it. The purple AVWAP from the initial listing is likely to be an area of resistance and where I will take the majority of profit or potentially exit. Note that the AVWAP from 12/14 was resistance during the decline. A lot of times we see a breakout from a consolidation form a bull flag before continuation. That AVWAP feels like an area that we could see that.
Long
by Ben_1148x2
JTO Technical Analysis -- JTO/USDT on a 1 hour timeframe has given me possibilities of acquiring massive profits if trend breakout above 1.73 with eyes on four targets. The first target will yield a 35.43% while second target is capable of yielding 66.13% and target 3 and 4 yielding 100.77% and 149.58% respectively. However, a stop loss at 1.48 from the breaking point will result to 14.96% loss. This is my technical analysis on JTO, more updates will be release as regards to the price action and possible trends in the chart. Kindly drop your view on this and follow me for more updates. Best of luck!
by AfrikanLEON