JasmyCoin is single-handedly trying to turn this boring crypto weekend into something newsworthy.
While Bitcoin and most top altcoins didn’t move much on Saturday, JASMY price is making modest movements.
JASMY Price Prediction and Analysis
After the JASMY price broke the $0.026 resistance level earlier this week, it now managed to break past the $0.03 level, which I highlighted as the important area for JASMY to break in order to resume its uptrend.
The MACD line is above the MACD signal line, indicating bullish momentum. This crossover suggests that the short-term average is increasing faster than the long-term average, potentially signaling a continuation of the upward trend. The situation has been like this for most of the week, so it’s not surprising JASMY is up 11% on a weekly chart.
However, the RSI is now at 69 on the daily chart, so there’s not a lot of room before it enters the overbought area, which is over 70.
This could indicate that we might see a small correction before JASMY resumes its uptrend towards the ATH area, at around the $0.04 level.
Source: TradingView
The 200-day Moving Average will serve as strong support, currently at $0.02. This level could come into play if we see any major market crashes.
Volume has pumped by over 110% in the last 24 hours, reaching over $225 million during this period.
Based on the current technical indicators and price action, JASMY appears to be in a strong uptrend. However, the approaching overbought territory on the RSI suggests caution.
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We might see a short-term pullback or consolidation before the next leg up. If the bullish momentum continues and JASMY can hold above the $0.03 level, the path to its previous ATH around $0.04 could be open.
As always, traders should remain vigilant and consider broader market conditions that could impact JASMY’s price movement.
Read also: Holding Just 1,000 ($600) Ripple’s XRP Tokens Could ‘Be Life-Changing’: Here’s Why
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