technical analysis and trade signal for the $JASMY /USDT pair:
Current Price: 0.04770 USDT (Up by +9.66%)
Support Level: The immediate support lies around 0.04111 USDT (24h low), and another strong support is at 0.04500 USDT, forming a key floor.
Resistance Level: The key resistance level is at 0.04900 USDT (24h high), which could be tested in the near term.
Indicators
RSI (Relative Strength Index): Currently at 65, suggesting that the pair is in a strong bullish momentum, though caution is advised as it’s approaching overbought territory.
MACD (Moving Average Convergence Divergence): The MACD is in positive territory, indicating a bullish trend. However, if the MACD line crosses below the signal line, it could signal a shift to neutral or bearish.
EMA (Exponential Moving Averages): The 50 EMA is above the 200 EMA, confirming a bullish trend.
Trade Signals
1. Entry Point:
Buy Zone: Enter a long position around 0.04550 - 0.04600 USDT if the price consolidates or retraces. This provides a good risk-to-reward ratio for the trade.
2. Targets:
First Target 🎯: 0.04900 USDT (24h high) — This is the immediate resistance level where profit-taking can be considered.
Second Target 🎯: 0.05200 USDT — A key resistance from previous price action and a psychological level.
Third Target 🎯: 0.05500 USDT — If the momentum continues to be strong, this level represents a further upside potential, especially if the market continues to trend upwards.
3. Stop Loss:
Stop Loss Level: 0.04100 USDT (below the 24h low) — Placing a stop-loss here minimizes the risk of a larger downturn.
Trade Momentum:
The market is currently showing strong upward momentum, with a 9.66% rise in the last 24 hours, supported by high trading volume (1.52B JASMY traded). If the RSI stays below 70, the bullish momentum is likely to continue.
A key shift to a bearish market could occur if the price breaks 0.04111 USDT decisively, which would confirm a retracement.