Jasmycoin 24-Hour Price Analysis: JASMY Shows Minor 1.89% Increase Amid Uptrend

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The one-hour chart for Jasmycoin (JASMY) below provides insight into recent price movements and potential future trends. The Exponential Moving Averages (EMAs) and price trendlines are critical indicators for this analysis.

Price Trend and EMA Analysis

Jasmycoin has been experiencing a steady uptrend, evidenced by its movement within a rising price channel. Currently, the price is positioned at $0.03231, which is above the key EMAs and underscores the bullish market sentiment.

The 20 EMA ($0.03201) closely trails the current price and provides immediate support. Meanwhile, the 50 EMA ($0.03179), 100 EMA ($0.03154), and 200 EMA ($0.03065) are all situated below the 20 EMA, creating a bullish stack. Consequently, this alignment suggests that short-term momentum favours the bulls, and any pullbacks might find support at these EMA levels.

Support and Resistance Levels

The 20 EMA at $0.03201 provides immediate support. However, should the price drop below this level, the 50 EMA at $0.03179 and the 100 EMA at $0.03154 will serve as additional support zones. Conversely, on the upside, the upper trendline of the ascending channel, around $0.03562, is the key resistance level to watch. Therefore, a breakout above this resistance could trigger a significant upward movement.

The STC (Stochastic RSI) indicator at the bottom of the chart indicates potential overbought and oversold conditions. Currently, the STC is reading 1.45139, suggesting that Jasmycoin might be oversold. Historically, price increases have followed such readings as buyers step in to take advantage of lower prices.

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Conclusion

In the next 24 hours, Jasmycoin’s price action will likely depend on its ability to stay above the 20 EMA and maintain the upward channel. Higher prices could follow if it breaks above the resistance at $0.03562. However, if it fails to hold the 20 EMA, a correction towards the 50 or 100 EMA might occur. Traders should monitor the STC indicator for signs of a potential reversal and watch the volume to confirm any significant price movements.