$JCT just did +295%. So what happened?
Janction ran from $0.0025 to $0.0213 in less than a day, then gave back almost half. It's now around $0.0112.
Honestly, there's no real news behind it. It looks like a short squeeze. JCT was the only big coin where more shorts got liquidated than longs in the last 24h. With only about 23% of the supply unlocked, it doesn't take much buying to push the price. Add the AI narrative and Jasmy backing, and traders piled in.
What I'd be careful about is the token unlock tomorrow, Nov 10. About 10% more supply enters the market, and early holders sitting on big gains may sell. That long wick to $0.0213 already shows sellers waiting.
Levels I'm watching:
Resistance at $0.0140 and $0.0181
Support at $0.0099 and $0.0080
My take: this is a squeeze, not fundamentals. If it holds $0.0099, momentum can continue. If it loses that after the unlock, it could drop hard.
Are you chasing this or waiting for the unlock?
NFA · DYOR
#AIChipSlumpNasdaq
Janction ran from $0.0025 to $0.0213 in less than a day, then gave back almost half. It's now around $0.0112.
Honestly, there's no real news behind it. It looks like a short squeeze. JCT was the only big coin where more shorts got liquidated than longs in the last 24h. With only about 23% of the supply unlocked, it doesn't take much buying to push the price. Add the AI narrative and Jasmy backing, and traders piled in.
What I'd be careful about is the token unlock tomorrow, Nov 10. About 10% more supply enters the market, and early holders sitting on big gains may sell. That long wick to $0.0213 already shows sellers waiting.
Levels I'm watching:
Resistance at $0.0140 and $0.0181
Support at $0.0099 and $0.0080
My take: this is a squeeze, not fundamentals. If it holds $0.0099, momentum can continue. If it loses that after the unlock, it could drop hard.
Are you chasing this or waiting for the unlock?
NFA · DYOR
#AIChipSlumpNasdaq
