$JCT close the 4H below 0.011798 and every pump into the resistance box will be good opportunity to short it back to 0.008-0.007 zone.
Post
--Bullish
Esam_Trading
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Bullish$JCT PUMPED 492% IN ONE WEEK!
👉What makes $JCT special?
It is the native token of Janction, an open-web resource sharing platform that supports your AI products. Janction provides services for sharing resources, including photos, storage, and processing power. Janction allows you to lease and hire a variety of service resources.
👉What caused the huge pump?
1-Widespread consumer interest in stories about AI and DePIN (decentralized physical infrastructure)
2-Described as primarily trading-driven and reflexive (short covering, liquidations, high volume exceeding market cap).
3-DWF Labs, Cogitent Ventures, MH Ventures, YBB, Waterdrip Capital, and Web3Labs were among the investors in the seed round.
4-Price action is primarily driven by narrative, and the product itself is still seen as unproven.
TECHNICAL ANALYSIS:
We need a weekly closure above 0.12636 for continuation to the upside and ATH price discovery.
On higher timeframe (1D), price has broken the key resistance zone (0.008376-0.007590). Now what I want is to price give us a S/R flip of that zone. I'll be looking for adding positions to long in the previous resistance zone.
1H tells us that we are at a resistance zone for now (0.015041-0.013481). RSI is in overbought zone, will be careful longing at the current resistance zone.
For short perspective, I would look for any deviations above the 1H resistance zone and then back below it and target back to the buying zone.
👉What makes $JCT special?
It is the native token of Janction, an open-web resource sharing platform that supports your AI products. Janction provides services for sharing resources, including photos, storage, and processing power. Janction allows you to lease and hire a variety of service resources.
👉What caused the huge pump?
1-Widespread consumer interest in stories about AI and DePIN (decentralized physical infrastructure)
2-Described as primarily trading-driven and reflexive (short covering, liquidations, high volume exceeding market cap).
3-DWF Labs, Cogitent Ventures, MH Ventures, YBB, Waterdrip Capital, and Web3Labs were among the investors in the seed round.
4-Price action is primarily driven by narrative, and the product itself is still seen as unproven.
TECHNICAL ANALYSIS:
We need a weekly closure above 0.12636 for continuation to the upside and ATH price discovery.
On higher timeframe (1D), price has broken the key resistance zone (0.008376-0.007590). Now what I want is to price give us a S/R flip of that zone. I'll be looking for adding positions to long in the previous resistance zone.
1H tells us that we are at a resistance zone for now (0.015041-0.013481). RSI is in overbought zone, will be careful longing at the current resistance zone.
For short perspective, I would look for any deviations above the 1H resistance zone and then back below it and target back to the buying zone.
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