#JASMY/USDT : Is It Time to Short? Here’s What the Charts Technical analysis
Current Market Snapshot:
-Price Now:0.02519 USDT-
-Recent High: 0.04469 USDT
- Recent Low:0.01708 USDT**
What the Chart Tells Us:
1. Trend Insights: - We’re seeing a descending triangle pattern, which typically hints at a bearish (downward) trend. - The Heikin Ashi candles are showing a series of red after a recent sell signal, indicating that the downward momentum is still strong.
2. Bollinger Bands: - The price is hugging the lower Bollinger Band, suggesting that JASMY might be oversold and could bounce back soon.
3. Sell Signal: - The UT Alerts flashed a sell signal around the 0.03000 USDT mark. This aligns with the top edge of our descending triangle.
Shorting Opportunity:
Given the current bearish setup, it might be a good time to consider shorting JASMY. Here’s a possible strategy:
- Short Entry: Around 0.02500 USDT
- Target:0.02000 USDT
- Stop Loss:Above 0.03000 USDT (to manage risk)
When to Consider Buying:
If you’re waiting to buy, patience could pay off. Watch for a break above the 0.03000 USDT resistance. This would signal a potential upward trend.
Price Predictions:
- Short-term:If the price dips below 0.02000 USDT, we could see it heading towards 0.01708 USDT.- Medium-term:A breakout above 0.03000 USDT could push the price towards 0.03500 USDT or even higher, depending on market vibes.
Final Thoughts:
The current chart patterns suggest that a short position might be worthwhile. However, if you’re thinking long-term, keep an eye out for a breakout above the key resistance levels. And as always, make sure to manage your risks!
