With the U.S. election results confirmed and Donald Trump taking office, cryptocurrency markets have surged, with altcoins experiencing a wave of bullish momentum. JasmyCoin (JASMY) is one of the altcoins riding this positive wave, currently trading at $0.0205. However, despite this surge, JasmyCoin may be entering a consolidation phase as key technical indicators, like the EMAs and RSI, suggest a cooling-off period may be imminent.
EMA Analysis: Immediate Supports in Play
JasmyCoin’s price has been closely interacting with its short and medium-term EMAs, which act as support and resistance levels. Let’s break them down:
- The 20 EMA at $0.020799 is close to the current price, making it an immediate support level. If JasmyCoin holds above this, the short-term bullish momentum could continue. A break below this level, however, could suggest a slowdown.
- The 50 EMA at $0.020320 is the next key support level. Should the price drop below the 20 EMA, the 50 EMA would likely serve as the next line of defence for buyers looking to keep the uptrend intact.
- The 100 EMA at $0.019468 and the 200 EMA at $0.018778 offer more substantial, longer-term support zones. These levels would only come into play in the case of a significant retracement, but for now, they suggest strong underlying support in the broader uptrend.
The overall arrangement of the EMAs—with the shorter EMAs above the longer ones—indicates that the market remains bullish. However, a break below these EMAs could change the narrative, signalling a reversal or consolidation.
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RSI Divergence: Cooling Off Ahead?
One concerning sign is the RSI Divergence at -8.445824, which indicates waning strength in the recent rally. This divergence suggests that while JasmyCoin’s price has risen, buying momentum is starting to fade. Such divergences often precede a short-term pullback or consolidation, especially in overbought markets.
For cautious traders, this could signal to lock in profits or wait for a clearer signal of the next move. Consolidation around the $0.020320 level (50 EMA) could offer a healthier foundation for future rallies.
Conclusion
JasmyCoin continues to enjoy the post-election altcoin surge, with strong support from the 20 EMA and 50 EMA. However, the RSI divergence signals that the rally may be losing steam. In the next 24 hours, traders should closely watch the $0.020799 and $0.020320 support levels. A consolidation period may be in play as the market digests recent gains. If JasmyCoin can hold these support levels, the overall bullish outlook remains intact, but a break lower could introduce a more significant correction.
