JasmyCoin (JASMY) has been moving inside a broadening wedge for several months, and according to crypto analyst Jonathan Carter (@JohncyCrypto), the structure is showing signs of a potential breakout. At the time of writing, JASMY price is hovering around $0.012, consolidating just above a strong support zone.
The daily chart reveals a clear broadening wedge pattern, which is typically known for high volatility and large swings. This kind of pattern forms when the price moves between two diverging trendlines, with each swing getting wider. In this case, JASMY has been bouncing between descending resistance and descending support since the start of the year.
JASMY Support and Resistance Zones Are Crucial
According to Jonathan Carter, the lower boundary of this wedge has acted as support multiple times, keeping the price from falling further. That support sits near $0.01, a psychological level that has held firm even during strong sell pressure.
On the upside, the descending resistance line has capped every recovery. JASMY price is now once again approaching this upper trendline, and Carter says a confirmed breakout above it could signal a trend reversal.
If the breakout happens, Carter highlights key price targets at $0.0155, $0.0200, $0.0280, and eventually $0.0400. These levels line up with past volume peaks and price congestion zones, making them realistic points where traders may take profit or reassess momentum.
The volume profile on the right side of the chart shows a cluster of activity around the current price, but volume is thinner above $0.015. That means a clean breakout could result in a fast move upward due to less selling pressure at higher levels.
The RSI indicator on the chart also shows something interesting. While it’s still below 50, it has been forming higher lows since early June, which can signal growing bullish momentum underneath the surface. This kind of divergence between price action and RSI often hints at an upcoming breakout.
JASMY Price Break Above $0.015 Could Flip the Trend
For JasmyCoin price to break free from this long-term downtrend, the market needs a strong move above $0.015. This level is not just a resistance from the wedge, but also a former support that turned into a ceiling in recent months.
Jonathan Carter believes that once this barrier is broken, bullish sentiment could quickly accelerate. In his view, the main confirmation would be a daily candle closing well above the descending trendline, ideally with a spike in volume.
From there, Carter sees a realistic chance that JASMY price could rise toward $0.020 and beyond, especially if broader market sentiment remains supportive.
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JasmyCoin is currently in a make-or-break position. The broadening wedge has created a pattern of lower highs and lower lows, but the consolidation near the support zone hints at strength. With momentum slowly shifting and volume building, traders are watching closely for a breakout signal.
Jonathan Carter has outlined the key levels to watch: support at $0.01, and resistance zones at $0.0155, $0.0200, $0.0280, and $0.0400. A breakout above the wedge would not only end months of downtrend pressure, but could also open the door to a potential multi-stage rally. For now, all eyes are on whether JASMY can push through the wedge’s upper boundary and flip resistance into support.
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