JasmyCoin (JASMY) Poised for an ‘Upside Breakout’, as PENDLE’s Bull Run Continues: Key Indicators to Watch
Bullish technical setups are emerging on JasmyCoin (JASMY) and Pendle (PENDLE). Crypto analyst Captain Faibik has spotted a pennant pattern on JASMY pointing to a 57% rally. Meanwhile, Pendle’s uptrend may continue based on its daily chart.
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JASMY’s Pennant Hints at 57% Rally
According to crypto analyst @CryptoFaibik, JASMY appears to be forming a bullish pennant pattern on the 8-hour chart against Tether (USDT). This technical formation typically signals continuation of the preceding trend after a period of consolidation.
“JASMY bullish pennant upside breakout looks promising for the 2x bullish rally in the coming days,” @CryptoFaibik stated while sharing a chart of JASMY’s price action.
The chart shows two converging trendlines – an upward-sloping support line and a downward-sloping resistance line forming the pennant’s “flagpole.” If JASMY manages to break out from this pattern, @CryptoFaibik has an ambitious upside target of around 0.023192, marking a 57.35% rally.
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Show more +Pendle Flashes Overbought But Bull Trend Intact
Meanwhile, Pendle’s daily chart on TradingView points to an asset riding stellar upward momentum. The last several candlesticks are painted green, reflecting a string of higher daily closes as bullish sentiment takes over.
Notably, the relative strength index (RSI) is elevated at 77, hovering just above the RSI-based moving average. This suggests Pendle may be overbought in the short-term. However, the moving average convergence divergence (MACD) indicator continues to trend higher above its signal line, hinting at potential for further upside.
Significantly, Pendle’s price of 7.3535 is well above the 200-period exponential moving average, a bullish sign of strong long-term support. As long as buyers continue to bid the cryptocurrency higher, the path of least resistance appears to be up.
While no technical signal guarantees future performance, the patterns highlighted by @CryptoFaibik and the daily chart suggest crypto traders should keep JASMY and Pendle on their watchlists for possible long opportunities in the coming sessions.
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