JasmyCoin Price Prediction: JASMY Breaks Above Its Price Channel, Does It Have the Juice Needed to Overcome Resistance?

The price of #JasmyCoin recently surged past a positive trend line on its 4-hour chart, marking a bullish pattern over the last few days. This period saw the cryptocurrency achieving progressively higher peaks and troughs. If JASMY's price continues to ascend beyond this upward trend in the upcoming 24 hours, it might challenge the resistance level at $0.017940.

However, this optimistic outlook could be negated if JasmyCoin's price falls to the support level of $0.01430 within the next day. Under this scenario, the digital currency could revisit this crucial price level. A drop below this threshold might lead to a correction towards the $0.011985 support in the subsequent days.

This level is particularly important as it coincides with the lower edge of the price channel mentioned earlier. Therefore, a breach below the $0.011985 support might indicate the termination of JASMY's bullish phase, potentially causing a sharp decline to the $0.008640 support level in the near term.

The JasmyCoin Price Might Adjust as Its Bullish Momentum Appears to Peak

Technical indicators for $JASMY hint at a potential downturn in the next 24 to 48 hours. The Relative Strength Index (RSI) suggests that the buying pressure is diminishing as the RSI line approaches its Simple Moving Average (SMA) line, following a period where the token was considered overbought. A crossover of these lines could serve as a significant bearish signal, indicating a shift in momentum towards the sellers.

Similarly, the Moving Average Convergence Divergence (MACD) indicator points to a bearish outlook in the short term. The bullish trend for #JASMY appears to be peaking, with the MACD line moving towards the MACD Signal line. This could be an early indicator of a potential reversal to a bearish trend, which would be further confirmed if the MACD line crosses below the MACD Signal line.