- The JST crypto price trades above the $0.0302 bullish point of interest (POI).
- Moving averages are suggesting strong bearish signals in the current trading sessions.
- The cryptocurrency is reflecting higher liquidity performance in the current phase.
Launched in August 2020, JUST (JST) is a popular decentralized finance (DeFi) ecosystem designed to provide a fair and borderless hub of DeFi products. The ecosystem is an entire suite of products centered around the “JustStable” stablecoin lending platform. USDJ and JST are the two tokens of this ecosystem, in which USDJ is a multi-collateral stablecoin pegged with the US dollar. The JST has various functions, from paying interest to platform governance.
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JUST April 2024: Supply Changes, Token Holdings & Valuation
The crypto has a capped maximum supply of 9.90 billion JST tokens. The current circulation supply of tokens also has the same numbers as the maximum supply. The statistics reflect the boldness of this project with an indication of a strong commitment. The current market capitalization of JUST stands at $325 million.
JST Crypto is dominating the global crypto market among the top 200 most dominant cryptocurrencies in the current phase. The total diluted valuation of the project is similar to the current market capitalization. The trading volume has exceeded $19 million in the last 24 hours, with an increment of 3.53%.
The cryptocurrency has 440,323 token holders and has advanced the transfer count by 6.40 million. The top 10 token holders own 48.21% of the current token circulation supply. The number one wallet owns 1.60 billion JST tokens, which covers 16.16% of the circulation supply.
Price to Volume and Social Dominance Analysis
The cryptocurrency has gathered massive applause on social media platforms, making JST a popular topic. JUST crypto has an average of 25% social dominance in the global social platforms. However, a noticeable change in social sentiments has been seen since Feb 2024, positively impacting the crypto price. At present, social dominance is rising at 27.29%.
Technical Analysis of the JUST (JST/USD)
The long-term outlook lies above the critical exponential moving averages on the bullish side. The current price rebounded the 200-day EMA, indicating a bullish trend continuation.
The JST price faced strong resistance from the $0.0515 resistance level. The price fell over 35% to the $0.0329 bullish point of interest (POI). At press time, the price is getting bullish reactions from that POI. If the price gives a closing above the $0.0393 resistance, it can surge up to the $0.0444 level as per the market technicals.
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The relative strength index (RSI) line correlates with the spot price chart, reflecting a neutral perspective in the current phase. The RSI line is moving at 41.50 below the SMA 42.04.
Summary
The JUST crypto price has shown a nice bullish trend since October 2023. However, the price faced strong resistance from the $0.0515 level. At present, the price is trading above the $0.0329 bullish POI. If the price gives a closing above the $0.0393 resistance, it can surge up to the $0.0444 level as per the market technicals.
Technical Levels
- Resistance Levels: $0.0393 and $0.0444
- Support Levels: $0.0302 and $0.0271
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or any other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
The post <strong>A Judgement Day for Bulls: JUST Crypto Hovering Above $0.0302</strong> appeared first on The Market Periodical.