JasmyCoin (JASMY) price seems to be bottoming out based on some price action. Some crypto analysts, like Michelle Jongbloets, have also noticed this and see it as a potential entry point for major triggers. Her technical analysis reveals some interesting patterns that could indicate an upcoming price movement.
What you'll learn 👉
JASMY Weekly Chart Analysis
The weekly timeframe shows JASMY currently trading at $0.02978, just below the crucial 38.2% Fibonacci level. Jongbloets highlights a particularly interesting development: the formation of a Hammer Candlestick pattern at the bottom of the weekly chart.
This pattern, characterized by a wick twice the size of its body, typically signals a potential bullish reversal. However, she emphasizes that confirmation would require a strong bullish candlestick in the following week.
In her analysis, Michelle Jongbloets points out that the MACD indicator shows diminishing bullish momentum, suggesting increased selling pressure. The RSI sits at a neutral 47, though a bullish recovery would need to push it into the high 50s or 60s. She identifies immediate resistance at $0.0322 (38.2% Fibonacci) and support at the 20-day moving average (0.0293).
Daily Timeframe Insights for JasmyCoin
The daily chart reveals ongoing consolidation with smaller candlestick bodies, indicating reduced selling pressure. J
ongbloets notes that the price is approaching oversold territory near the lower Bollinger Band around $0.024. She identifies key resistance levels at $0.033 and potentially $0.037 if bullish momentum continues.
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JasmyCoin Short-Term Price Action
Looking at the 4-hour timeframe, Jongbloets describes a market caught in a tug-of-war between bulls and bears. An engulfing red candlestick near the 20-moving average marks a resistance zone, while immediate support holds around $0.029.
The MACD shows limited momentum for breaking above resistance, with the RSI suggesting potential bearish pressure.
Critical JasmyCoin Price Levels to Watch
According to Michelle’s analysis, the $0.029 area represents a crucial “make-it-or-break-it” level for JASMY in the short term. A failure to maintain this support could trigger a drop to $0.027 or lower.
Conversely, successful breaks above key resistance levels at $0.0322 and $0.033 could signal the start of a stronger upward movement.
Jongbloets concludes that while the Hammer Candlestick pattern on the weekly chart presents a bullish signal, traders should wait for confirmation before making major moves. She emphasizes the importance of watching how price action develops around the key support level at $0.029, as this could determine JASMY’s direction in the coming weeks.
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