Chart Analysis: JASMYUSDT Weekly Chart
1. General Appearance
On the chart, JASMYUSDT has gained upward momentum on the weekly timeframe and is consolidating in an uptrend. The price is holding at the support level after the upward move and a potential breakout pattern is observed.
2. Support and Resistance Levels
• Main Support: The 0.01800 level is an important level where the price finds support. Unless this level is broken, the upside potential can be maintained.
• Main Resistance: The 0.03700 level is observed as the first significant resistance point of the uptrend target. Above, the 0.05500 level is determined as the next target.
3. Formation and Formation Reversals
The chart clearly shows a descending wedge formation. This formation usually results in upward breakouts. If the price breaks this formation, a strong rise towards the determined target levels can be expected.
4. Trend Direction
• Main Trend: There is an uptrend in the medium term. If the wedge formation is broken, the upward movement is expected to continue.
• Short-Term Outlook: Consolidation process continues. Price remaining at support level is a positive sign.
5. Strategy and Recommendations
1. Long Position: With the upper band of the descending wedge broken, it is possible to evaluate the potential for an increase up to the levels of 0.03700 and 0.05500. Long positions can be taken after this break is confirmed.
2. Stop-Loss: A closing below 0.01800 may indicate that the trend may weaken. In this case, stop-loss levels can be determined.
3. Targets: The first target is the 0.03700 level. If this level is exceeded, the 0.05500 level can be monitored.
4. Risk Management: Increasing the amount to be invested in small pieces and ensuring risk distribution is important for protecting capital.
6. Indicators
• Volume: Increasing volume during an uptrend can confirm the strength of the breakout. Volume growth should be monitored carefully.
• RSI and Momentum: It will be useful to analyze the strength of the trend, checking whether it is approaching oversold or overbought areas.
Summary
JASMYUSDT has the potential to break out of the descending wedge formation. If this breakout is confirmed, a strong rally can be expected. However, it is important to maintain certain support levels and get volume confirmations.
