JITO is a liquid staking service developed on the Solana blockchain network. This service enables users to stake Solana (SOL) tokens and, in return, receive JitoSOL, a liquid token. A distinctive feature of JITO is its distribution of both staking rewards and Maximum Extractable Value (MEV) rewards based on the staked tokens. By collaborating with validators focused on enhancing network performance and providing additional MEV rewards, JITO offers users higher yield opportunities.
I believe that funds could flow into JTO after the rise of Bonk and Solana in the market. The hype in the Solana ecosystem continues. From a technical perspective, if it takes liquidity around the $2.55 level and retests above $2.55, an entry could be attempted from that region. I consider the safest entry point to be around the $1.86 level. The resistance levels I’m monitoring are $3.57 and $4.
The analyses shared here are not investment advice; however, they are considered support and resistance levels that may provide short to medium-term trading opportunities in the market. The responsibility for taking trades and managing risks lies with the user. It is strongly recommended to use stop loss in the trades shared.