JASMY Coin Technical Analysis

11 Jul

Over the daily chart, the JASMY got the chance to break out from its long accumulation range and peaked at 800% by March 3rd from $0.00300 to $0.02736. However, the price fell into a contracted wedge, which ended up becoming a symmetrical triangle pattern, which gave another rally 180% price rally and built an ATH at $0.04412 by June 7th, 2024.

Thereon, the major profit booking caused the price to drop, which later reached 200-day support by July 5th, 2024, and with correlation to BTC, the price has resonated with BTC taking support.

At press time, the JASMY traded at $0.02510 with a nearly 4% gain, price approaching 50-day EMA. Macd started to converge, and a bullish crossover is most likely to be anticipated next. RSI flashed at 44.59, taking support from 14-SMA.

Therefore, if the price ralies, then the resistances stand at $0.03220 and $0.03856. however, if it fails then slippage of $0.02266 would lead towards $0.01655.