JasmyCoin price has broken below a key support level that had been relevant since February 2024. The current price at the time of writing is $0.01204, and this breakdown suggests more downside could be on the way. The last time JASMY slipped below this same level was three months ago, and it fell as low as $0.008 before finding any serious support. This time, the odds of a similar or deeper decline are growing.
Looking at the daily chart, the Bollinger Bands are squeezing tight around the price, indicating a buildup before a big move. However, the fact that the price is pressing the lower band instead of bouncing off it suggests selling pressure is increasing. JASMY is now trading well below its 20-day moving average, which has acted as dynamic resistance since late March. There is no sign of bullish momentum here.
The current structure shows JASMY stuck in a slow grind downward, with lower highs and lower lows forming for months. Attempts at recovery in April and May were weak and short-lived. Even the brief spikes couldn’t break above the mid-band resistance, showing just how strong the bearish grip is.
Weak Market Structure Signals More Downside for JasmyCoin
This chart doesn’t show any bullish structure or support zone that could reliably stop the current trend. The psychological support around $0.01 is now at risk, and if that gives way, $0.008 looks like the next area of interest. But even that level might not hold this time if the broader crypto market continues to weaken.
There’s also been no indication of a bullish divergence or strong volume inflow that could suggest accumulation. The price continues to bleed slowly, which often precedes a sharp breakdown once key buyers give up. With no reversal signals and a clean break below a long-standing support, JasmyCoin may be heading for more pain.
Bullish Momentum Is Gone and Bears Are in Control of JASMY Price
JASMY has already lost nearly 60% of its value since the start of the year, and the momentum remains bearish. The Bollinger Bands expanding to the downside while the price hovers near the lower band is often a sign of continued decline. Unless there’s an unexpected bounce backed by strong volume, JasmyCoin price looks like it’s on track to retest $0.008 or possibly break even lower.
Read Also: Bitcoin Could Be Days Away from a 60% Rally: Here’s What the Chart Says
In this current state, any long positions would be risky. The trend is down and not showing anty signs of slowing. For now, JASMY is deep in bearish territory, and this breakdown below support might just be the start of the next leg lower.
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