JasmyCoin (JASMY) is displaying signs of a potential bullish reversal as veteran financial trader Matthew Dixon highlights a long-standing support level. His analysis points to a bullish divergence forming on the RSI, suggesting weakening selling pressure. With a risk/reward ratio of 20:1, traders are eyeing a possible upside move toward key resistance levels.
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JASMY Bullish Divergence Signals Potential Reversal
Dixon’s chart work on JASMY shows promising signs at current levels. The $0.0122 zone has repeatedly served as a strong foundation, with multiple bounces confirming its significance as an accumulation area for traders.
Just wanted to highlight the Bullish Divergence in place for #JASMY from the long held support zone.
— Matthew Dixon – Veteran Financial Trader (@mdtrade) March 7, 2025
Risk/reward does not get much better than this with a potential 20/1 ratio in your favour pic.twitter.com/fzePf4tGaq
What makes this particularly interesting is the bullish divergence visible on the RSI. While JASMY’s price dropped to a lower low, the RSI formed a higher low – typically a sign that selling pressure is weakening. With RSI currently at 36.44, approaching oversold territory, strengthens the case for a potential upward move.
The risk/reward proposition looks quite attractive at 20:1 if this support level holds. Dixon identifies $0.075 as the main target, which lines up nicely with both the upward trendline and historical resistance points.
The first resistance to watch is around $0.025, where selling pressure may emerge. A major hurdle exists at $0.050, a psychological level with past price rejections. The final target of $0.075 represents the projected upside if JASMY sustains bullish momentum.
Read also: How High Can ONDO Go in 2025? ONDO Price Prediction
JasmyCoin’s Current Market Performance
According to CoinGecko, JASMY is trading at $0.01692, reflecting a 5.09% decline in the past 24 hours. The crypto has also dropped 1.27% over the last week, indicating near-term bearish pressure. However, if the bullish divergence materializes, a potential reversal could see JASMY testing higher resistance levels.
Dixon’s assessment aligns with broader market trends, where traders are closely monitoring key support zones for entry opportunities. His tweet emphasizes the favorable risk/reward setup, making JASMY an asset to watch. Bulls could start a price recovery if they can hold off $0.0122.
The capacity of JASMY to maintain support levels will be critical in deciding its next course of action given the shifting sentiment in the market. To verify the bullish divergence and possible breakout possibilities, traders will be keeping an eye out for confirmation indications.
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