JASMY’s price is approaching a well-established support level that has been tested multiple times over the past year. Traders are watching the price action as market signals suggest a potential move in either direction. Looking at a recent analysis from trader Matthew Dixon on X, the current price drop for JasmyCoin might just be a correction rather than a major decline.
JasmyCoin is trading around the $0.0175-$0.0180 support level – a level that’s held strong for about a year now. This area has consistently been where buyers step in. The price of JASMY has been sliding down from December’s high of over $0.0500, but this appears to be following a corrective pattern rather than a strong bearish move.
Technical indicators further reinforce this perspective. The RSI sits at 31.78, close to oversold territory. This hints that selling pressure might be easing up, making a bounce more likely. If buyers step in, JASMY’s price could target resistance levels around $0.0250 – $0.0350 shortly.
What you'll learn 👉
JasmyCoin Market Sentiment and Technical Indicators
Market sentiment around JASMY remains cautious as traders watch to see if support holds. Dixon noted that the price movement looks more like a correction than a trend reversal. He also highlighted that a Dollar-Cost Averaging (DCA) strategy could be an effective approach as the asset nears its established support.
If JASMY’s price bounces from this support, it could signal an uptrend. However, going below $0.0175 can take the price to $0.0150. Traders are waiting for clear signals from price action and volume before taking big positions.
Read Also: Pro-XRP Lawyer Explains Why the Ripple vs. SEC Case Could Be the Last to Settle Among Crypto Cases
JasmyCoin Key Resistance and Breakout Levels
If support holds, breaking above $0.020 could show renewed bullish momentum. The nearest resistance is at $0.0250, a former short-term resistance. A more forceful move can test the $0.0350-$0.0400 area, a region where sellers intervened before
On the downside, if the price of JASMY falls below $0.0175, focus shifts to $0.0150, the second significant demand zone.
Market Outlook and Risk Management
JASMY’s ability to hold its long-term support is the main factor for near-term price movement. Traders are watching for clear breakout or breakdown signals. A bullish confirmation would need a strong price bounce and sustained buying while losing support could trigger further drops.
With the market at a critical point, traders should be careful and manage their risk. The coming days will show whether JasmyCoin’s price can hold its historical support or if more downside is ahead.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
