Liquid staking protocol based on Solana Jito [$JTO] will launch the JTX Trade app. There has been speculation about the positive effects this might have for the $JTO symbolic, but there were some facts behind the bullish expectations.
AMBCrypto announced in June that JTX Trade would be a unified trading platform, like Hyperliquid, and would offer perp and market prediction offerings.
With 80% platform fees should be allocated to $JTO During token buybacks, analysts predicted a 2-5% buyback of the token during the first year of the trading platform’s operation.
Can $JTO achieve expected bullish price targets?
Crypto influencer Ansem predicted the token would surge 3x, which indicated a price target above $1.5. However, given the market-wide malaise, a strong recovery may prove difficult.
On the weekly time frame, the altcoin has a firm bearish swing structure. However, over the last three months, buying pressure has increased $JTO was noticeable.
As a result, OBV was able to challenge the 2025 high. Meanwhile, the weekly RSI recovered and remained above neutrality. 50 for the first time since November 2024.
However, the $0.80 has become a local supply area. The psychological $1 The level hasn’t been tested yet either.
Based on Fibonacci retracement levels, a rally up to $1.62 to $2.0 seemed possible. The launch of JTX Trade and token buybacks could be a catalyst for a sustained uptrend.
Traders’ Call to Action – Buy
THE 4 hours The price action on the chart was bullish. The upward movement from $0.40 to $0.88 marked an impulsive rally that was currently in a retracement phase.
The RSI has fallen to oversold extremes over the past few trading sessions, and there has been a sharp price decline in volume until $0.60. This situation began to reverse as we went to press.
A worrying factor has been the sideways trend of OBV over the past three weeks. Bulls are hoping for regular, heavy buying in the coming days to maintain $JTOThe recovery is underway, which also leads to a rise in the volume indicator.
Final summary
- The performance and reliability of the Solana network is a combination that Jito Network wants to use to create “a unique surface for on-chain trading” for serious traders.
- The altcoin’s long-term trend was bearish, but a rally between $1.6 and $2.0 seemed possible if overall market sentiment doesn’t collapse too much.
