The Jito price pumped more than 4% in the past 24 hours to trade at $4.13 as of 12:50 a.m. EST as investors go long on the altcoin.

JTO’s surge follows a recent announcement by crypto exchange Coinbase that it will add support for Jito perpetual futures on its platform. Along with JTO, the exchange will add TNSR and JUP perpetual futures as well.

@CoinbaseIntExch will add support for @JupiterExchange $JUP, @tensor_hq $TNSR, and @jito_sol $JTO perpetual futures on Coinbase International Exchange and Coinbase Advanced. The opening of JTO-PERP, JUP-PERP, and TNSR-PERP markets will begin on or after 9:30am UTC on 16 MAY 2024. pic.twitter.com/7O7bDWCUsS

— Coinbase International Exchange 🛡️ (@CoinbaseIntExch) May 9, 2024

Trading for these futures will begin on or after 9:30 a.m. UTC on May 16, 2024, Coinbase said in a May 9 X post.

The Jito Price Trying To Escape Consolidation

4-hour chart for JTO/USDT (Source: TradingView)

The Jito price has been in a consolidation phase between $3.449 and $4.167 over the past couple of days. However, traders are now attempting to push the crypto’s price above the upper boundary of this zone.

Should JTO close a 4-hour candle above $4.167 within the next 12 hours, it could give the altcoin a good foundation to rise off from. Bulls might then identify a long entry, potentially pushing the Jito price to as high as $5.257 in the following 48 hours.

On the other hand, a rejection from the $4.167 resistance in the coming 12 hours could invalidate this bullish thesis.

In this alternative scenario, JTO might be at risk of retesting the $3.449 support level. Continued sell pressure if the crypto drops to this point could put the Jito price at risk of falling below this key mark. As a result, the crypto might drop to as low as $2.800 if bears keep dumping it.

Bullish Technical Flags Suggest The Jito Price Might Keep Climbing

Technical indicators on JTO’s 4-hour chart suggest the Jito price could keep climbing in the next 24 hours. Major bullish technical flags are beginning to show up between the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators.

In the last 24 hours, the RSI crossed above its Simple Moving Average (SMA) line on the 4-hour chart to trigger the first major bullish flag on JTO’s chart. Traders usually see this as a sign that bulls have become stronger than bears, and could subsequently look to push a crypto’s price higher.

Meanwhile, the MACD line is attempting to cross above the MACD Signal line. With the former positioned below the latter, it seems JTO was in a short-term negative cycle.

However, the end of this trend could be signaled if the MACD crosses the Signal line in the next 24 hours. This will then push the Jito price into a bullish phase.

While bullish signs crop up on JTO’s charts, investors are rushing to buy new Solana meme coin Sealana (SEAL) before its official launch.

Looking To Overtake Its Canine-Themed Counterparts

Investors have poured millions of dollars into Solana meme coin presales over the past few weeks. During this period, cryptos such as Dogwifhat (WIF), Bonk (BONK), and Myro (MYRO) exploded.

Sealana, making #Memecoins great again! 🇺🇸

Manifesto1⃣ No Frogs 🐸2⃣ Less Hats 🧢3⃣ Many Whales 🐳4⃣ Zero Rugs 📉5⃣ More $SEAL 🦭 pic.twitter.com/FEImgpWxWz

— Sealana (@Sealana_Token) May 7, 2024

Up until now, the burgeoning SOL ecosystem has been dominated by dog and cat-themed altcoins. This is something that Sealana, a seal-themed meme coin, is looking to change.

Within just a few hours of going live, Sealana raised over $100,000. The momentum continued, with the lighthearted crypto raking in more than $350,000 in its first week after launch.

A Potential 10X Opportunity

Prominent crypto analyst and YouTuber Jacob Bury told his 38.4k subscribers that Sealana could be the next 10X opportunity.

Because Sealana is a Solana meme token, investors are only able to use SOL to buy the crypto. Using a wallet holding SOL, investors can then specify how much SEAL they want to purchase.

Purchase SEAL here before its official launch. For every 1 SOL sent to the address, investors will receive 6,900 SEAL tokens.

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Source: https://thebittimes.com/jito-price-prediction-jto-jumps-4-on-coinbase-futures-plan-as-experts-say-consider-this-new-sol-meme-coin-for-parabolic-gains-tbt87940.html