Jito’s Wild Week: Decoding the Charts

Having monitored Solana ecosystem tokens since 2021, Jito’s (JTO) recent price action demands cold analysis - not emotional reactions. The token swung between \(2.34 and \)1.89 last week, offering textbook examples of volatility compression.

Day 1: The 15.63% Mirage

When JTO spiked 15.63% to \(2.25 on modest \)40M volume, my Bloomberg terminal flashed three alerts. The tell? A declining RSI divergence during the pump. Institutional traders know this pattern well - it’s what we call “weak hands fueling strong exits.”

The Volume Puzzle

Day 2’s 0.71% dip tells the real story. With turnover hitting 42.49% (\(106M), someone was taking profits aggressively near the \)2.46 resistance level. My order book analysis shows limit sell walls appearing every \(0.05 increment above \)2.30.

Technical Takeaways

• Support Tested: The \(1.89-\)2.00 zone held firm twice this week, coinciding with Jito’s 50-day MA
• Liquidity Hunting: Those flash crashes to $1.89? Classic stop-loss hunting before reversals
• Efficiency Metric: Current 31.65% turnover suggests speculative interest remains high

As always in crypto: Trade the chart, not the cheerleading.