The JasmCoin (JASMY) price had a great week, rising by 44.57% and reaching a two-month high of $0.0101 due to some futures market speculation and whale accumulation, according to Bankless Times. However, traders’ profit-taking caused a small decline on the last day.
The JASMY price is catching its breath after its strong rally, and honestly, this cooldown looks more like healthy consolidation than weakness.
While exchange supply is at a record low of 7.99M JASMY, there has been net selling over buying by 45M units in key trading sessions.
Rather than breaking down, the JASMY price has slipped into a tight consolidation – a healthy cooldown that’s holding firm without giving up any important ground. Right now, JASMY is sitting nicely above support, which means its overall bullish setup is still in place.
What the JASMY Chart Is Showing
Looking at the chart, the dips have been pretty mild, with higher lows stacking up along that rising trendline. That kind of price action usually indicates that buyers are coming in early and are not waiting for deeper dips.
The consolidation looks orderly, and this more often than not is a signal of accumulation rather than distribution. An interesting clue is showing up in the RSI – analyst Matthew Dixon points out on X that the JASMY price is still holding its RSI support after the latest push higher.
Even as the price moves sideways, the RSI reflects a hidden bullish divergence – a setup that in many cases presages underlying strength and the potential for continuation once consolidation has ended.
What comes next for JASMY
As far as JasmyCoin is concerned, there appears to be somewhat of a mixed sentiment surrounding this token.
On the positive side, the bulls are looking at accumulation patterns as well as the robotic aspect associated with this cryptocurrency as positives. On the negative side, the bears are looking at derivative weakness as well as fatigue on the charts as negatives.
The level to keep an eye on is the support area at $0.0085-$0.0090. If the JASMY price manages to hold this area, it could place more emphasis on the breakout play. However, if it falls below, we could see the orderly unwinds come into play.”
The important question for now is whether JASMY can keep this structure going. While price is holding above its rising support and RSI is supported, the setup favors another push higher rather than a deeper retracement.
While short-term chop is still possible, the current chart suggests that this pause could be simply the market resetting for the next leg up.
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