Crypto analyst BullishBanter shared his trading strategy for JasmyCoin (JASMY), as its price fell to $0.0174 last night before bouncing off to its current level of $0.0184. JASMY saw a 3.14% price gain and 90.34% volume increase within the last 24 hours.
The analyst defined a compelling trading strategy for both long and short positions. He noted that JasmyCoin had seen substantial gains, placing holders in an optimistic mood.
He emphasized that if Bitcoin (BTC) continues its upward momentum, JASMY could see further price increases. The post highlighted critical resistance and support levels for traders to monitor.
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What you'll learn 👉
JasmyCoin’s Price Action and Market Performance
Crypto analyst @BullishBante1 shared on CoinMarketCap with his 9.3k followers his trading strategy has JASMY’s price hit a 3.14% rise in the last day.
This analysis came as JasmyCoin surged in trading volume, as evidenced by a 90.34% increase in 24-hour volume to $96.5 million.
JASMY’s rise in trading volume, coupled with a 3.14% market cap increase to $910 million, indicates investors are getting excited about this coin. When the post went out, the coin’s price was $0.01935, just shy of breaking through its key resistance level of $0.01943.
With 98.6% of its total supply already in circulation, JasmyCoin’s market dynamics point toward continued price action as scarcity increases.
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Show more +Key Levels for Traders to Watch
BullishBanter’s post provided clear technical levels for traders. He suggested that traders should keep their eyes on that $0.01943 resistance level and that if JASMY sees a potential breakout, we could see it hit $0.01960 and $0.01980.
Bullish Banter recommended that traders willing to have a long trade should consider jumping in if the price goes above the resistance level, and a stop loss should be set at $0.01887.
Bullish went on, advocating that those willing to have a short trade should equally consider waiting for it to drop below the $0.01765 support level, aiming for $0.01740 and $0.01720, and a stop-loss at $0.01821 should be set.
However, these strategies offer a clear game plan for traders looking to capitalize on JASMY’s recent market momentum.
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The Impact of Bitcoin on JasmyCoin
BullishBanter also mentioned in his post that Bitcoin’s price action could significantly influence JASMY’s trajectory.
The trader also mentioned that if BTC continues to pump, JASMY could smash through that $0.01943 resistance and keep on climbing.
Finally, traders are advised to keep an eye on Bitcoin’s movement closely, as it may be the key catalyst for JasmyCoin’s next major price swing.
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