JasmyCoin (JASMY) price seems to be bottoming out based on some price action. Some crypto analysts, like Michelle Jongbloets, have also noticed this and see it as a potential entry point for major triggers. Her technical analysis reveals some interesting patterns that could indicate an upcoming price movement.
JASMY Weekly Chart Analysis
The weekly timeframe shows JASMY currently trading at $0.02978, just below the crucial 38.2% Fibonacci level. Jongbloets highlights a particularly interesting development: the formation of a Hammer Candlestick pattern at the bottom of the weekly chart.
This pattern, characterized by a wick twice the size of its body, typically signals a potential bullish reversal. However, she emphasizes that confirmation would require a strong bullish candlestick in the following week.
In her analysis, Michelle Jongbloets points out that the MACD indicator shows diminishing bullish momentum, suggesting increased selling pressure. The RSI sits at a neutral 47, though a bullish recovery would need to push it into the high 50s or 60s. She identifies immediate resistance at $0.0322 (38.2% Fibonacci) and support at the 20-day moving average (0.0293).
Daily Timeframe Insights for JasmyCoin
The daily chart reveals ongoing consolidation with smaller candlestick bodies, indicating reduced selling pressure. J
ongbloets notes that the price is approaching oversold territory near the lower Bollinger Band around $0.024. She identifies key resistance levels at $0.033 and potentially $0.037 if bullish momentum continues.
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JasmyCoin Short-Term Price Action
Looking at the 4-hour timeframe, Jongbloets describes a market caught in a tug-of-war between bulls and bears. An engulfing red candlestick near the 20-moving average marks a resistance zone, while immediate support holds around $0.029.
The MACD shows limited momentum for breaking above resistance, with the RSI suggesting potential bearish pressure.
Critical JasmyCoin Price Levels to Watch
According to Michelle’s analysis, the $0.029 area represents a crucial “make-it-or-break-it” level for JASMY in the short term. A failure to maintain this support could trigger a drop to $0.027 or lower.
Conversely, successful breaks above key resistance levels at $0.0322 and $0.033 could signal the start of a stronger upward movement.
Jongbloets concludes that while the Hammer Candlestick pattern on the weekly chart presents a bullish signal, traders should wait for confirmation before making major moves. She emphasizes the importance of watching how price action develops around the key support level at $0.029, as this could determine JASMY’s direction in the coming weeks.
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