Jasmycoin (JASMY) finds itself at a critical juncture as the crypto market crash hits major altcoins. Despite recent bearish pressure, several technical indicators suggest that JASMY might be primed for a potential trend reversal in 24 hours. Let’s dive into the charts to uncover the key levels and signals that traders should monitor.

Price Action and Recent Lows

JASMY has experienced a significant downturn, recently touching a low of 0.01709. However, this level’s subsequent bounce indicates buyers might be stepping in at these depressed prices. Currently trading at 0.02107, JASMY has shown resilience in the face of selling pressure by increasing its price by 29.23% in the last 24 hours.

While the Exponential Moving Averages (EMAs) are still in a bearish alignment, there are signs of potential convergence. The 20 EMA (0.02192) is starting to flatten out, which could be the first indication of a trend shift. If JASMY can break above and hold the 20 EMA, it might signal the beginning of a short-term bullish move.

Related article: Notcoin 24-hour Price Analysis: NOT Shows Impressive Gain With 20.61% Surge – Is The Market Downturn Over?

Key Resistance Levels to Watch

Here are some levels traders should keep a close eye on:

0.02478 (50 EMA)

0.02643 (100 EMA)

0.02774 (200 EMA)

Breaking above these levels could confirm a stronger bullish sentiment and lead to a more sustained upward movement.

The recent low of 0.01709 now serves as a critical support level. This area could act as a springboard for a potential reversal. Additionally, the zone between 0.02000 and 0.02200 appears to be a battleground between bulls and bears, with increased trading activity visible on the chart.

Trendline Analysis

A descending trendline can be drawn from the late July highs. Any break above this trendline, which currently intersects around the 0.03000 level, would be a significant bullish signal. Conversely, respecting this trendline as resistance could lead to further consolidation or downside.

While trading volume data shows a 15.44% decrease, the recent price action suggests increased interest at current levels. A surge in trading volume accompanying any upward price movement could confirm growing bullish momentum.

Conclusion

As JASMY approaches the end of its recent downtrend, the next 24 hours could be crucial in determining its short-term direction. While bearish pressures remain, there are early signs of a potential reversal. Traders should watch for a break above the 20 EMA and increased buying volume as initial bullish signals. However, caution is still advised, as cryptocurrencies remain highly volatile. Risk management and careful position sizing will be essential for the upcoming trading sessions.