JCT/USDT: SELLERS TAKE CONTROL AFTER A SHARP REVERSAL:
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JCT has taken a heavy hit after its recent rally, dropping more than 22% in 24 hours. Price is trading around $0.00546, and the 1H and 4H charts are showing clear selling pressure.
The important question now is whether buyers can defend the $0.0050 area or if another leg down is coming.
🔻 1H: Strong red candles show aggressive selling. Short-term momentum remains bearish, although a temporary bounce could happen after such a fast drop.
🔻 4H: JCT failed to hold its recent highs near $0.0080–$0.0086 and reversed sharply. Sellers currently have the upper hand.
🔻 1D: The recent rally toward $0.00916 has faced a strong rejection. The daily chart is now correcting, and price needs to stabilize before a bullish recovery becomes convincing.
• Resistance: $0.0058–$0.0062
• Major resistance: $0.0065–$0.0070
• Immediate support: $0.0050–$0.00504
• Next support: $0.0045–$0.0047
• Lower support: $0.0040–$0.0042
🎯 TRADE SIGNAL: SHORT BIAS
Potential entry: $0.0058–$0.0061 after bearish rejection
TP1: $0.0051
TP2: $0.0047
TP3: $0.0042
Invalidation: A sustained recovery above $0.0065 would weaken this setup.
A breakdown below $0.0050 followed by a failed retest could offer another short opportunity.
⚠️ My take: The trend favors sellers for now, but opening a short after a 22% drop carries risk. I'd rather wait for a bounce and rejection than chase the move at current prices. If support holds and buyers reclaim resistance, the setup could change quickly.
What do you think — will JCT lose $0.0050 next, or are buyers preparing a recovery?
Trade idea only, not financial advice. Manage risk carefully, especially when trading perpetual futures with leverage.
$JCT
#EarningsSeason
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JCT has taken a heavy hit after its recent rally, dropping more than 22% in 24 hours. Price is trading around $0.00546, and the 1H and 4H charts are showing clear selling pressure.
The important question now is whether buyers can defend the $0.0050 area or if another leg down is coming.
🔻 1H: Strong red candles show aggressive selling. Short-term momentum remains bearish, although a temporary bounce could happen after such a fast drop.
🔻 4H: JCT failed to hold its recent highs near $0.0080–$0.0086 and reversed sharply. Sellers currently have the upper hand.
🔻 1D: The recent rally toward $0.00916 has faced a strong rejection. The daily chart is now correcting, and price needs to stabilize before a bullish recovery becomes convincing.
• Resistance: $0.0058–$0.0062
• Major resistance: $0.0065–$0.0070
• Immediate support: $0.0050–$0.00504
• Next support: $0.0045–$0.0047
• Lower support: $0.0040–$0.0042
🎯 TRADE SIGNAL: SHORT BIAS
Potential entry: $0.0058–$0.0061 after bearish rejection
TP1: $0.0051
TP2: $0.0047
TP3: $0.0042
Invalidation: A sustained recovery above $0.0065 would weaken this setup.
A breakdown below $0.0050 followed by a failed retest could offer another short opportunity.
⚠️ My take: The trend favors sellers for now, but opening a short after a 22% drop carries risk. I'd rather wait for a bounce and rejection than chase the move at current prices. If support holds and buyers reclaim resistance, the setup could change quickly.
What do you think — will JCT lose $0.0050 next, or are buyers preparing a recovery?
Trade idea only, not financial advice. Manage risk carefully, especially when trading perpetual futures with leverage.
$JCT
#EarningsSeason
