The price of JASMY has been drawing attention as it edges closer to a pivotal resistance level. Crypto analyst The Candle Wick emphasizes the potential for a shift in momentum on X, stating, “Keep going $JASMY. Need to break that PHM lower high to flip the daily CHoCH (change of character).” The accompanying chart shows JasmyCoin approaching a critical decision point, which could determine its short-term trend.
What you'll learn 👉
JASMY Chart Analysis
JasmyCoin is trading near the Previous Week’s High (PWH) of approximately $0.041, a resistance level closely monitored by traders. This level represents a key hurdle as the token attempts to break out of its recent price range.
If the JASMY price surpasses this resistance, it could lead to a bullish continuation towards the Previous Month’s High (PHM) and further into the supply zone near $0.045–$0.048. This area is particularly important as breaking it would signify a 22% potential upside.
On the support side, JasmyCoin’s price has held above the Previous Day’s Low (PDL) and Previous Week’s Low (PWL). These levels have acted as strong foundations, preventing further downside and maintaining bullish momentum in the short term
Change of Character Signals Potential Reversal
The concept of a Change of Character (CHoCH), mentioned in The Candle Wick’s tweet, suggests the possibility of a market reversal if the PHM level is breached. Currently, the token is forming higher lows, signaling increasing bullish interest. However, until the price breaks above PHM, the long-term downtrend remains intact.
The JASMY chart reveals the presence of green candlesticks with upper wicks, indicating buying pressure despite resistance from sellers. The absence of large red candles suggests that selling momentum has diminished, which could pave the way for a breakout if buyers gain control.
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Traders Monitor Candlestick Patterns and Volume
Candlestick patterns and trading volume are critical for assessing JasmyCoin’s price next move. While the recent price action shows optimism, a confirmed breakout above PHM would require significant buying pressure. A rejection at resistance could lead to a retracement toward the PDL, potentially testing the $0.034–$0.035 range.
The coming days will be pivotal for JasmyCoin as traders closely watch these levels to determine its trajectory.
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