JASMY Update — Bullish Setup, 0.04 Stop-Over, 0.065 Next Target
Lately, I've seen many posts and comments from people who were disappointed with JASMY's performance. "It's a shitcoin," "Will go to zero," "It'll never pump," etc. — these are just a few (and polite) examples of comments you can read.
I understand that people if they bought the top, are disappointed when a token dips like 50% (as JASMY did lately). However, overall, JASMY is doing super well and still has enormous potential from a chart and technical indicator point-of-view.
So, let's get some things straight:
➡️ Between January and June, JASMY pumped almost 800%. That's an incredible performance.
➡️ JASMY corrected sharply after each pump — which, by the way, is healthy.
➡️ Except for a few days, JASMY respected the overall support and resistance areas, and there hasn't been a risk of more downside potential or a bearish trend.
➡️ JASMY has been trading nicely above the EMA200 since the beginning of the year.
What's Next 👇
From my perspective, JASMY's chart looks quite bullish. Although it is not a playbook inverse head-and-shoulders pattern, we can clearly see a neckline (0.032) formed by two smaller and bigger dips. Additionally, the average volume has been constantly decreasing—exactly what you want to see in such a pattern.
In order for the pattern to play out, JASMY needs a strong volume influx, pushing it above the neckline. If this happens, we should quickly see it reconquering 0.04 as the next resistance.
In the mid-term, I stand with my prediction: 0.067 is the target!
