An active start to the weekend: A 25 percent rise!

Jito (JTO), which is part of the Solana ecosystem, got off to a fast start to the weekend, rising 25%.

Pullbacks were seen in cryptocurrencies after last week with the Bitcoin spot ETF agenda. Cryptocurrencies such as Aptos (APT), Arbitrum (ARB) and Mina (MINA), Solana (SOL) started the weekend with a decline.

Despite the bearish weekend of many cryptocurrencies, JTO took off. JTO is up 25% on the day. JTO, which was on the agenda with the Solana hype, advanced from $1.50 to $1.85 in a short time.

Is Jito (JTO) bullish?

Jito (JTO), which was launched on December 7, 2023 and created great expectations, came close to making the expected debut a month later. JTO, which is in the Solana ecosystem, marked the day with a 25 percent rise.

Jito, which emerged in December, when Solana created a great hype and was talked about a lot with its airdrop, was interpreted as the new Celestia (TIA) by many crypto investors. The DeFi project of the Solana ecosystem hit $4.5 when it launched and then dropped to $1.5. JTO, where bullish expectations have increased with the price decline, is close to a breakout before a major breakout.

Looking at the JTO chart, the price is above $1.85, which is an important breakout point. After falling as low as $1.50, JTO made a significant rise by reclaiming the $1.53 support. Gaining momentum from this support point, JTO soon touched the $1.85 resistance. If JTO breaks through the 1.85 resistance and sustains, it could rise to $2.22. A break above this zone could push the JTO price to $2.87. If the $2.87 target arrives, which is a significant uptrend, the next resistance point could be at $3.25.

On the other hand, JTO may pull back if it fails to break through the $1.85 resistance. JTO’s rejection from the 1.85 resistance could lead to a drop to $1.60. If it fails to recover from this area, the JTO could pull back to the 1.53 support.