JASMY — High Risk Of Further Drop (If Broader Market Doesn't Turnaround)
A few days ago, during the daily video session, I analyzed the JASMY price. I highlighted the bearish potential and how JASMY could reverse that. Obviously, the bears took over full control.
Since the last analysis, JASMY's price dropped below the Ichimoku cloud, signaling further bearish potential. Moreover, the current price action could result in a bear flag. If so, a break is likely, sending JASMY to its strongest support level at ~0.024.
Based on the current volume, it doesn't look like JASMY bulls are ready to step in. We need a reversal of the broader market to invalidate this scenario.
On the bright side, support at 0.024 is definitely strong, and I would expect it to hold in case we drop to it.
Reminder: This is a short-term price prediction. It does not change anything about the bullish long-term scenario for JASMY!
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