Jasmycoin (JASMY) has entered a consolidation phase in the last 24 hours, showing signs of healthy price accumulation. With key technical indicators pointing towards a possible breakout, market participants are watching closely for the next significant price movement.

Consolidation Above EMAs: Signs of Accumulation

In the latest price action, JASMY is trading above key exponential moving averages, suggesting that the bulls have the upper hand in this consolidation phase. As observed, JASMY currently sits at $0.02248, slightly above the 20 EMA ($0.02193), 50 EMA ($0.02154), 100 EMA ($0.02119), and the 200 EMA ($0.02077).

This sustained position is a positive indicator, as it points to strong support levels that could hold off any sharp declines in the near term. When prices remain above moving averages, it often signals continued buying activity and, thus, accumulation—a potential prelude to an upward breakout. Additionally, the narrowing distance between these moving averages indicates that a volatile move could be imminent.

Related article: XRP’s Bullish Signal Fades: What Went Wrong?

RSI Divergence: Moderating Gains, But Bulls Still Strong

The RSI divergence indicator at 9.06 is another critical factor to consider. While this reading is positive, it reflects a moderate upward momentum rather than an aggressive spike. This steady build-up often reflects a market where buyers gradually accumulate positions, preparing for a larger move. The RSI also suggests that JASMY still has room to run before reaching overbought territory, meaning there could be further gains in the next 24 hours.

However, traders should also be wary of potential retracements. The market has seen brief sell-offs in the last few hours, but support at the EMAs has remained firm, keeping the overall structure bullish.

What’s Next for JASMY? Resistance Levels to Watch

Moving forward, traders should monitor critical resistance levels, particularly around $0.02300, which could act as the next key hurdle for the bulls. A successful test of this resistance could lead to a breakout and a possible push towards higher levels. On the downside, immediate support remains at the 20 EMA ($0.02193) and the 50 EMA ($0.02154). A deeper retracement could follow if prices break below these levels, though this is less likely given the current positive sentiment.

JASMY remains in a healthy consolidation phase, with strong support from key technical indicators. A breakout seems likely, but traders should remain vigilant for sudden changes in momentum.