$JCT : 33% Dump in 24h. Capitulation or Just the Start? 📉
JCT fell from 0.011768 to 0.005320 in a single day, almost a straight line of red 1h candles. Here is how I'm reading it:
🔹 RSI(6) at 28: oversold and curling up, which suggests selling exhaustion, not a confirmed reversal
🔹 MACD: still below zero, but the histogram is shrinking, so bearish momentum is fading
🔹 Volume: spiked on the dump, now drying up
🔹 Price action: small candles with long wicks around 0.0053–0.0060, so sellers are losing steam
Levels I'm watching:
Support: 0.005320 (a close below means continuation)
Resistance: 0.006416, then 0.007835
My plan: I'm not catching the falling knife. I wait for a higher low or a 1h close above 0.0064 before considering a long. If 0.0053 breaks I stay out.
⚠️ After a 33% move volatility is extreme. Small size fixed stop and never risk more than you can afford to lose.
What's your read: bounce or more downside?
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#BinanceLiveFutures #JCT #Futures #TradingAnalysis Not financial advice.