π Paradisers, the recent market dynamics surrounding #JTO have indeed been noteworthy.
π The successful bounce observed upon revisiting the support trendline area, coupled with the reclamation of the demand zone around $3.1, reflects positive momentum.
π Additionally, the price tested the resistance area, coinciding with the golden ratio of 0.618. However, encountering rejection at this level suggests potential retesting of the demand zone at $3.1 - $2.9 to gather momentum for another attempt at breaking the resistance. A successful breakout could pave the way for reaching our target supply zone.
π Should JTO fail to bounce upon retesting the demand and instead break below this area, there's a possibility of revisiting the support trendline or even descending further towards the Bullish OB area.
π Ideally, JTO would only touch the OB area with a wick, similar to previous instances. A confirmed break below the support trendline would signal bearish momentum, potentially leading to further downward movement.
π JTO's price must remain above the Bullish OB area around $2.2. A breach of this level, coupled with a candle close below it, would validate bearish sentiments.
MyCryptoParadise
iFeel the successπ΄
π The successful bounce observed upon revisiting the support trendline area, coupled with the reclamation of the demand zone around $3.1, reflects positive momentum.
π Additionally, the price tested the resistance area, coinciding with the golden ratio of 0.618. However, encountering rejection at this level suggests potential retesting of the demand zone at $3.1 - $2.9 to gather momentum for another attempt at breaking the resistance. A successful breakout could pave the way for reaching our target supply zone.
π Should JTO fail to bounce upon retesting the demand and instead break below this area, there's a possibility of revisiting the support trendline or even descending further towards the Bullish OB area.
π Ideally, JTO would only touch the OB area with a wick, similar to previous instances. A confirmed break below the support trendline would signal bearish momentum, potentially leading to further downward movement.
π JTO's price must remain above the Bullish OB area around $2.2. A breach of this level, coupled with a candle close below it, would validate bearish sentiments.
MyCryptoParadise
iFeel the successπ΄
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