technical analysis and trade signal for the $JASMY /USDT pair with three target levels and trade momentum:
JASMY/USDT Technical Analysis
Current Price: 0.04035 USDT
Market Overview:
Price Change (24h): +33.74%
24h High: 0.04265 USDT
24h Low: 0.02890 USDT
Support: 0.02890 USDT (Key support level)
Resistance: 0.04265 USDT (Immediate resistance level)
Key Indicators:
Moving Averages: The 50-period and 200-period moving averages are showing a bullish crossover, indicating upward momentum.
RSI: RSI is in the neutral zone (around 60), suggesting potential room for further upward movement before hitting overbought conditions.
MACD: The MACD is showing a bullish crossover with a steady upward momentum.
Trade Signals & Targets
Trade Momentum:
The strong bullish trend suggests a continuation of upward momentum. However, traders should stay cautious and monitor the market for any signs of reversal as the price approaches key resistance levels.
Trade Setup:
Entry: Buy around 0.04000 USDT (current price level).
Target Levels:
1. Target 1: 0.04350 USDT
Reasoning: This is the immediate resistance level. If the price breaks through this, expect further gains.
2. Target 2: 0.04550 USDT
Reasoning: This is a stronger resistance level. If the momentum holds, this could be the next major target.
3. Target 3: 0.04800 USDT
Reasoning: Based on previous price action and potential upward breakout, 0.04800 is a good target for a more significant rally.
Stop-Loss Strategy:
Stop-Loss: Set a stop-loss at 0.03500 USDT to protect against a potential reversal and minimize risk.
Trade Summary:
Trade Type: Long (Buy)
Entry Price: 0.04000 USDT
Target Levels: 0.04350, 0.04550, 0.04800 USDT
Stop-Loss: 0.03500 USDT
Risk/Reward Ratio: Good potential risk-to-reward ratio, as targets show strong upside with relatively low downside risk.