Date: Sat, Sept 14, 2024, 12:46 PM GMT
In the world of cryptocurrencies, altcoins are riding a bullish wave this week, with Bitcoin (BTC) surging 9.76% in the past 7 days. This surge has ignited positive market sentiment, pushing several altcoins higher—including Jasmycoin (JASMY), which has gained 11.63% over the same period. Currently trading at $0.02052, Jasmycoin is eyeing a significant breakout.
Bullish Signals for Jasmycoin (JASMY)
According to crypto analyst @AliferCrypto, Jasmycoin is showing strong signs of a potential rally. The daily chart for the $JASMY pair is giving off promising signals for a breakout.
As per Alifers's analysis, Jasmycoin is testing the 200-day Exponential Moving Average (EMA), and if it manages to break through this level, it could see a huge price jump—potentially up to 135%.
Credits: AliferCrypto (X)
After bouncing off the 1-year EMA, Jasmycoin is now challenging both the 200-day EMA and the top of a pattern it has been trading within since June. If it breaks out of this pattern, it could surge toward its March 2022 high of $0.05, offering major gains from its current price.
On top of that, the Relative Strength Index (RSI) has been rising while the price stayed steady, which usually signals that selling pressure is fading and more buyers are stepping in to push the price up.
What This Could Mean for Jasmycoin
If the breakout happens, Jasmycoin may be on its way to reclaiming significant highs, providing an exciting opportunity for investors looking for potential gains in the altcoin market. However, traders should keep an eye on the 200-day EMA resistance, which could be a critical level in determining the coin’s next move.
Get more updates at: coinsprobe.com
Disclaimer
The information provided in this article is for informational purposes only and should not be considered financial or investment advice. Always do your own research before making any investment decisions.
