JasmyCoin rebounds over 99%, consolidating between $0.002-$0.004, with bullish flags signaling upward momentum.
Fibonacci levels highlight $0.02668 as critical resistance, with $0.017 acting as strong foundational support.
MACD crossover and volume spikes confirm bullish sentiment, with JasmyCoin aiming for $0.02 and potential targets at $0.05-$0.1.
Javon, an analyst on X, highlighted a recovery for JasmyCoin (JASMY), forecasting a possible 174x surge to $4.47842. Recent price movements indicate the token's potential for further growth, as it continues to break key resistance levels and attract volume-driven interest.
https://twitter.com/JavonTM1/status/1860906485917556790
Steep Downtrend Followed by Recovery Patterns
JasmyCoin initially experienced a steep decline, with prices falling from $0.20 to around $0.002, a retracement of over 99%. This phase appeared as a capitulation period, characterized by high selling pressure likely due to overvaluation or broader market shocks.
Subsequently, a visible accumulation phase emerged, consolidating between $0.002 and $0.004. This period suggested reduced selling activity as buyers began establishing positions.
JasmyCoin then formed smaller flag patterns, showing bullish continuation, eventually breaking out of a parallel channel near $0.006. These breakouts marked the start of a recovery phase that progressed toward the $0.01 to $0.015 consolidation zone.
Current Price Levels and Fibonacci-Based Projections
At press time Jasmy was trading at $0.0257, following a recent breakout from a consolidation zone near $0.013. Notably, the $0.01 to $0.015 range now acts as a strong support level. Resistance looms at $0.02, and a sustained breakout above this level could lead to higher targets, including $0.05 and potentially $0.1.
Source: CryptoRank
Fibonacci retracement levels further emphasize critical price zones. The 23.6% level at $0.02668 has become an immediate resistance, while $0.017 remains a strong foundational support. Additionally, price action near $0.02967 represents a psychological hurdle for further upward momentum.
MACD and Volume Indicators Support Positive Momentum
The MACD indicator shows the MACD line crossing above the signal line, signaling upward momentum. Both lines are now above the zero level, reinforcing bullish sentiment. Meanwhile, volume spikes align with breakouts, underscoring strong market participation.
A horizontal channel formed between $0.01700 and $0.02600 in recent weeks highlights accumulation activity, paving the way for bullish price movements. The breakout from $0.02600 aligns with rising trading volume, validating ongoing upward trends.
