Solana’s price shows bullish divergence, signaling potential price increase.
JasmyCoin’s price may see upward movement within a larger correction phase.
Analyst predicts SOL could reach $600, JASMY’s outlook less certain.
Crypto analysts are closely watching recent price fluctuations in Solana (SOL) and JasmyCoin (JASMY), offering insights and predictions based on technical analysis and market trends.
Prices for Solana have been volatile, but analysts predict SOL could cost between $150.51 and $173.16 by mid-June 2024. Current market activity and technical patterns support this price growth.
Crucially important are Circle’s programmable wallets on Solana and Helio’s Solana Pay plugin for Shopify merchants. These integrations may boost usage and adoption by enhancing the e-commerce and Web3 services capabilities on Solana.
Additionally, Evai CEO Matthew Dixon detected a Solana bullish divergence. He clarified that the RSI makes lower lows while SOL makes higher lows. This bullish divergence, with higher lows in the RSI and lower lows in the price, indicates a potential trend reversal.
#SOL is demonstrating Hidden Bullish Divergence shown by the red lines (Higher lows on $SOL price, Lower RSI lows)Followed by Regular Bullish Divergence (Lower lows on Price, Higher RSI lows)The movement down is also corrective and so conclude #Solana price will head higher pic.twitter.com/IqPhCaV9rA
— Matthew Dixon – CEO Evai (@mdtrade) June 14, 2024
Dixon came to the conclusion that the price of SOL ought to climb because the decline is corrective. Market expectations are for SOL to increase, and this technical analysis supports that. Solana also has solid long-term projections.
Some analysts predict SOL will hit $600 because of its robust network adoption metrics and growing TVL in its DeFi ecosystem. Technical patterns also point to a possible brief increase to $200 if certain resistance levels are breached.
Shifting focus to another token generating analyst interest, JasmyCoin (JASMY), known for its focus on data democratization and Internet of Things applications, has also seen recent price fluctuations.
Matthew Dixon reports that, following a predicted correction, Jasmy fell in the 4th wave of a larger fractal pattern. This implies a 5th wave to potentially finish the bigger fractal 5th wave.
Following the anticipated correction for #JASMY, we have corrected lower in a 4th wave in blue, meaning we should get 5th wave up in blue to complete the larger fractal 5th wave red.We could have "nesting" to allow potential further upward movement but this is not expected imo pic.twitter.com/c9ZpCKlEYJ
— Matthew Dixon – CEO Evai (@mdtrade) June 14, 2024
Dixon does not think “nesting” will let things go higher. According to this technical viewpoint, there may be an organized correction phase with upward movement possible as a component of a bigger wave pattern.While both SOL and JASMY are currently experiencing market fluctuations, the insights from analysts like Dixon suggest the potential for future price appreciation.
The post Solana and JasmyCoin: Crypto Analysts See Potential for Price Rebound appeared first on Coin Edition.
