Date: Fri, February 21, 2025 | 05:23 AM GMT
In the cryptocurrency market today, Jito Network, the liquid staking protocol on the Solana blockchain is coming in spotlight as its native token $JTO surges by over 16% in the last hour following a major listing announcement.
Upbit Announces Jito (JTO) Listing
The sharp increase in JTO’s price comes after Upbit, South Korea’s largest cryptocurrency exchange, confirmed that it will begin trading support for JTO/KRW. According to the official announcement, trading will commence at 2:30 PM KST on February 21, 2025.
This listing is expected to provide a substantial boost in liquidity and exposure for JTO, potentially driving further demand among traders and investors.
What’s Next for JTO?
At the time of writing, JTO is trading at $3.21 and appears to be consolidating within an asymmetrical triangle pattern. Following today’s listing announcement, the price surged to test the upper resistance trendline of the triangle while trading within a key horizontal resistance zone marked in red.
However, JTO faced rejection from the resistance, pulling back from a high of $3.54 without managing to break out. This suggests that while bullish momentum is present, the token still lacks the strength for a decisive breakout at this stage.
The pattern indicates that there is still room for JTO to consolidate within the triangle before making another breakout attempt. Traders should closely monitor price action near the resistance level and watch for increased volume or a retest of lower support before a potential upward move.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. Always conduct your own research before making investment decisions.