JASMY/USDT Market Update: Strong Push Through Resistance Levels
$JASMY

Moving AveragesThe 200-period Simple Moving Average (SMA) on the 4-hour chart is currently positioned around 0.01982.JASMY/USDT has recently surged above this level, indicating strong bullish momentum. Holding above this SMA could increase the likelihood of a sustained upward trend.

Relative Strength Index (RSI)The RSI stands at 78.96, which places it in the overbought zone.This suggests strong bullish momentum; however, it also implies that the price might experience a short-term pullback or consolidation due to overbought conditions.

Moving Average Convergence Divergence (MACD)The MACD line is at 0.00047 with the Signal line at 0.00041, indicating a bullish crossover.Positive histogram bars support the bullish momentum, and further expansion of these bars would strengthen the upward trend.

Support and Resistance Levels

Immediate Resistance: 0.02150 – a critical resistance level; a breakout above this could open up more upside potential.Local Support: 0.01982 (200-period SMA) – offers a solid support base if a pullback occurs.Key Support: 0.01700 – a lower support level that may act as a base if the price sees a broader correction.

Bullish/Bearish Scenarios

Bullish Scenario: A breakout above 0.02150 would indicate strong bullish momentum, potentially leading to further gains with a target around 0.02500.Bearish Scenario: If JASMY/USDT is rejected at 0.02150 and drops below the 200-period SMA, a decline toward 0.01700 could be anticipated.

Disclaimer

This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research before making any trading decisions.