JTO jumps 12% but sellers still control the perpetual market: What’s next?

Jito [JTO] has posted a 12% gain in the past 24 hours, yet the momentum supporting the asset’s performance does not quite fit the bullish narrative.

Several factors across exchanges, particularly in the perpetual market, are not aligned with the rally—selling volume is dominant, and funding has shifted against the bulls rather than in their favor.

Long/Short Ratio drops as Funding Rate turns negative

When an asset rallies, exchange factors typically align with the move in terms of liquidity flow and trader positioning. In JTO’s case, that alignment is absent.

Selling volume is growing in the perpetual market at the time of writing. The Long/Short Ratio, which measures whether long or short volume dominates, has plummeted below 1 to 0.87, according to CoinGlass, signifying that selling volume is outpacing buying volume.

The Funding Rate has also shifted negative, implying that short contracts now outnumber long contracts in the market—a dynamic that confirms sellers are still dominant despite the price move higher.

The liquidation data reinforces this reading. The gap between long and short contracts liquidated remains minimal at just $7,000 even as the market rallied, a figure that would be significantly larger if the move were decisively bullish.

JTO trades into the blue resistance zone

The chart presents a distinct picture of JTO at a critical juncture. Structurally, JTO has traded into a resistance range marked in blue on the chart, where growing sell pressure could force the asset lower toward the diagonally rising support line below.

The Aroon indicator suggests a rejection at this level is likely as momentum fades, with the Aroon Up sliding lower from the 100% mark, reflecting a notable weakening in buying momentum.

However, the potential decline is unlikely to be extensive. The Money Flow Index remains in bullish territory, signaling that buy activity is still present in the market and could act as a buffer against a deeper drop.

Unless the MFI ticks lower from its current reading, sellers are unlikely to exert significant force on price, and this thesis holds as long as capital continues to flow into the market.

OpenInterest recovers to $39.58 million 

The recent rally marks a notable turnaround from the previous day’s performance, where AMBCrypto reported a massive 20% capital outflow that pushed open interest down to $33.44 million in a single session.

Leveraged capital has since recovered, climbing back to $39.58 million at the time of writing. AMBCrypto’s prior analysis noted that bulls were still in play and could drive JTO higher, a scenario that is currently playing out.

For now, however, until full bullish alignment emerges across perpetual positioning, funding, and volume, optimism should remain cautious rather than reflect active conviction.

Final Summary

• JTO surged 12% with Open Interest recovering to $39.58M, but sellers still hold control.
• Bearish sentiment in the perpetual market persisted, raising doubts about whether bulls can sustain momentum in the sessions ahead.