🐻 $JTO Short Setup: Rejection at the 50-Day EMA! 📉
The pump was impulsive, but the wall at $0.35 – $0.36 is proving to be unbreakable. We’ve seen repeated rejections at this level, which aligns perfectly with the 50-day EMA resistance. With RSI hitting overbought territory and volume starting to fade, the "exhaustion" phase has begun.
The Strategy: We are looking for a mean-reversion play back toward the $0.28 support floor. This isn't just a dip; it's a structural lower-high formation.
🔻 TRADE DETAILS:
Entry Zone: 0.315 – 0.330 (Wait for the breakdown confirmation)
Stop Loss (SL): 0.350 🛡️ (Strict adherence—a close above this invalidates the bear case)
Take Profit 1 (TP1): 0.300
Take Profit 2 (TP2): 0.290
Take Profit 3 (TP3): 0.280 🎯
Market Context: $JTO outperformed the market yesterday, but liquidity is now rotating out of Solana ecosystem betas. If $BTC remains sideways, expect $JTO to bleed back to its accumulation base.