Thursday, March 23, 2023
    HomeMarketJasmy price technical analysis as rebound accelerates

    Jasmy price technical analysis as rebound accelerates


    The Jasmy Coin worth rose on Monday, persevering with a bullish pattern that began in December when it dropped to a low of $0.0028. It jumped to a excessive of $0.0074, the very best level since September 18. It has jumped by over 152% from its lowest level in December, as we wrote here.

    JASMY/USD day by day chart evaluation

    The day by day chart exhibits that the JASMY coin worth has been in a powerful bullish pattern prior to now few weeks. This restoration has been accompanied by elevated quantity ranges. On the similar time, the coin has managed to maneuver above the necessary resistance stage at $0.0060, the very best level on January 24.

    Jasmy additionally jumped to the 50% Fibonacci Retracement stage. Additionally, it jumped above the essential resistance level at $0.0068 (October 30 excessive). It has additionally jumped above the 50-day shifting common and the Ichimoku cloud indicator. Jasmy, which is called Japan’s Bitcoinhas additionally fashioned an inverted head and shoulders sample, which is a bullish signal.

    Subsequently, it looks as if Jasmy has the momentum it must proceed rising within the coming days. If this occurs, the subsequent key resistance stage to look at might be at $0.0086, the 61.8% Fibonacci Retracement level. This worth is about 27% above the present stage.

    On the flip aspect, a drop beneath the necessary help stage at $0.0060 will invalidate the bullish view. If this occurs, it’s going to sign that there are nonetheless sellers left available in the market who might be eager to push it to the subsequent key help stage at $0.0050.

    Jasmy worth 4H chart evaluation

    On the 4H chart, we see that the Jasmy Coin worth has made a spectacular comeback prior to now feww weeks. Because it rose, the token crossed the important thing resistance stage at $0.0060, the place it struggled to maneuver above on January 24 and February 2. The coin can also be above the 25-day and 50-day EMAs.

    On the similar time, a more in-depth look exhibits that quantity bars have began to drop. Subsequently, this could possibly be an indication that the bullish pattern is fading, which might see it retreat within the coming days. However on a constructive aspect, the coin has fashioned a small hammer sample, which is a bullish signal. 

    A reversal might be confirmed if JasmyCoin worth plunges beneath the decrease aspect of the hammer at $0.0065.

    JASMY/USD chart by TradingView

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