JASMY/USDT Technical Analysis:
1. Graphic Overview
In the 4-hour time frame, it is observed that the price is moving within a falling channel and has broken out of the channel upwards. The breakout of the channel indicates the beginning of an upward momentum.
2. Target and Prices
• Short Term Target: A move towards 0.0500 is expected. This indicates a gain potential of 20-25% from current price levels.
• Medium Term Target: 0.0600 level is a strong resistance zone in the longer time frame.
• Long-Term Target: The 0.0800 level stands out as a strong psychological and technical target on the chart.
3. Support and Resistance Levels
• Supports:
• 0.0380: Old channel upper limit, retest level.
• 0.0350: Main support area.
• Resistors:
• 0.0450: Initial resistance.
• 0.0500: The main resistance and the point where the rise will accelerate.
4. Indicators
• Volume: An increase in volume is observed in the channel breakout, which supports the accuracy of the move.
• RSI (Relative Strength Index): The RSI is in the bullish zone and has not reached any overbought areas, indicating that the upward move may continue.
• Moving Averages (MA):
• The short-term MA is trending above the long-term MA, indicating an uptrend.
• Price action maintains a strong hold above 50 MA.
5. Formations and Formation Reversals
• Falling Channel Breakout: The breakout of the channel indicates the completion of the upward formation and the beginning of a new trend.
• Trend Direction:
• There is a clear upward trend in the short term.
6. Strategic
• Entry Point: Purchases can be made from the retest zone of the channel falling between 0.042-0.043.
• Goals:
• Short term: 0.0500
• Medium term: 0.0600
• Stop Loss: In case of a closing below 0.0380, the position should be exited.
• Risk Management: Position size should be adjusted so that the risk/reward ratio is 1:3.
7. Conclusion and Recommendation
The current breakout in the JASMY/USDT pair signals a strong upward movement. However, trades should be planned carefully, considering the general market situation and volatility. After the falling channel breakout, it seems quite possible that the price will target the 0.0500 level.