Jito [JTO] Surges 16% Amid 1000% Volume Spike, Faces Volatility Risks

2026-03-24 19:36

Jito [JTO] has surged 15.96% to $0.3314 as trading volume spiked over 1000%, indicating a sharp increase in spot demand. This surge follows a breakout from a descending channel, with JTO reclaiming the $0.2775 support and pressing towards the $0.3376 resistance. The Relative Strength Index (RSI) has climbed to 63, suggesting the rally has room to extend without entering overbought territory. Despite the price breakout, sell pressure remains as Spot Taker CVD shows a sell-dominant market, indicating profit-taking by retail traders. Open Interest has surged 89.51% to $28.97 million, reflecting increased leveraged positioning. This rise in leverage could amplify volatility, with potential for sharp moves if prices stall or continue higher.

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