Since the beginning of the week, the cryptocurrency market has experienced dramatic price swings, highlighting the heightened volatility within the cryptocurrency space. In addition, the impending approval of an Ethereum spot ETF has sparked a new bull rally in the market.
JASMY：
JASMY price continues to show positive price action, up 5.12% on a trading volume of $113.5 million, having jumped 61.18% in the past 24 hours. Additionally, the altcoin is up 8.29% in the past seven days, with a year-to-date return of 229.36%.
On the positive side, the altcoin has formed a triangle pattern in the 1D time fame and is about to test its resistance trendline. Moreover, the Simple Moving Average (SMA) is supporting the price chart, highlighting a strong bullish sentiment.
If JasmyCoin breaks out of the triangle pattern, the price will experience a bullish uptick that can lead JASMY price to test its overhead resistance at $0.0275.
However, a bearish reversal could pull the price towards this month’s support at $0.0193.
GALA：
Despite a correction of about 1.25% in the past 24 hours, Gala price has successfully recorded a breakout pattern of a symmetrical triangle pattern on the 1D time frame, highlighting the high probability of a bullish price action ahead.
The crossover EMA 50 is on the verge of a bullish convergence, indicating that the bullish sentiment on the price of Gala is rising. Moreover, the histogram of the MACD shows a continuous rise, and its average is showing a positive uptrend.
If the market regains momentum, GALA price will break above its important resistance and is ready to test its overhead resistance at $0.05850. On the negative side, if the bulls fail to regain momentum, the altcoin will fall to its critical support at $0.03750.
in conclusion:
As the bullish sentiment in the market continues to grow, volatility continues to rise. Moreover, Ethereum-based tokens are expected to outperform the cryptocurrency market as the possibility of altcoins rising in the future is high. Therefore, this is a good opportunity for enthusiasts to accumulate altcoins.
(Personal opinion, not a recommendation)
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