JasmyCoin (JASMY) has demonstrated promising upward momentum, as observed in a chart analysis shared by The Crypto Titan.
JASMY’s breakout from a bullish pennant pattern on the daily chart suggests potential gains, with the crypto currently retracing before what could be a further upward push.
The analysis of JASMY’s daily chart reveals a breakout from a bullish pennant pattern, a formation often indicating the start of a strong upward trend. After this breakout, the price is undergoing a brief retracement, a common occurrence following initial breakouts, as some traders realize profits and the market stabilizes.
This retracement phase could provide a potential entry point for those who missed the initial breakout, with signs pointing toward a continuation of the bullish trend. Additionally, the chart shows a downtrend line that JASMY recently surpassed, which had served as a multi-point resistance level.
Crossing above this line signals that bullish momentum may be building, opening the way for potential upward price movements soon.
What you'll learn 👉
Support and Moving Average Levels Hold Strong
JASMY’s price action highlights a robust support zone around the $0.018-0.019 range, where buying interest has consistently emerged. This area acts as a base for the recent breakout, suggesting a solid foundation for any potential bullish moves.
Furthermore, a moving average (likely a 50-day or 100-day) on the chart also plays a critical role in providing dynamic support. JASMY’s successful crossing above this moving average indicates an increase in bullish sentiment, aligning with the chart’s overall upward bias.
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Price Target and Anticipated Bullish Continuation
Following the retracement, the analysis points to a potential upside target between $0.0265 and $0.0270, representing approximately a 30% gain from the current price level. This range aligns with the anticipated bullish continuation suggested by The Crypto Titan’s tweet, which hints at the potential for a large bullish candle in the coming days.
Should the price respect the support levels and maintain momentum, JASMY could achieve this target range, marking a substantial gain for traders.
The Crypto Titan’s tweet hints at a “final opportunity” for those interested in JASMY, implying that the current pullback could be the last entry point before further price appreciation.
The chart’s curved arrow projection suggests that JASMY may bounce off its support levels or moving average to resume its upward trajectory, attracting new buyers and building on the recent bullish sentiment.
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