Crypto analyst Javon Marks has shared a bullish outlook for JasmyCoin (JASMY), predicting substantial price increases soon. In a tweet, Marks highlighted several technical indicators that suggest JASMY could be poised for growth.
Besides, he shared targets set at $0.2785 and a potential rally reaching $4 in the long term. Marks’ analysis of the JASMY chart reveals several key factors supporting a positive price trajectory.
The chart indicates a possible change from a bearish to a bullish perspective by showing a break from a descending trendline. Higher highs and lows, a classic indication of an uptrend, corroborate this breakout even further.
The analyst noted the presence of confirmed bullish patterns that have successfully broken out of previous resistance zones. These patterns, combined with the price action, suggest that JASMY has moved out of a consolidation phase and may be preparing for an uptrend.
Volume Supports Price Action
An important aspect of Marks’ analysis is the emphasis on increasing bullish volume. The chart includes a volume indicator showing rising trading activity coinciding with breakout periods. This surge in volume is often a crucial factor in validating breakouts and supporting continued price appreciation.
The alignment of bullish patterns, breakouts, and increasing volume provides a strong foundation for the analyst’s optimistic outlook on JASMY’s future price performance.
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Price Targets and Potential Gains
Based on the technical analysis, Marks has set two price targets for JASMY. The first target is $0.2785, which would represent a gain of over 1,314% from current levels. This projection aligns with measured moves typically associated with breakout patterns in technical analysis.
The second, more ambitious target is set above $4, indicating a highly bullish long-term outlook for the crypto. While this target suggests exponential growth, it’s important to note that such projections are based on technical analysis and may not account for fundamental factors or market conditions.
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