JasmyCoin (JASMY) 24-hour Price Analysis: How Long Will This Uptrend Last?

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After a period of consolidation within a narrow trading range, JasmyCoin (JASMY) has recently experienced a significant price movement. This price action indicates a potential shift in market sentiment and presents new opportunities for investors.

Bullish Breakout and Price Surge

JASMY’s price broke out of an ascending triangle pattern, resulting in a remarkable 63% surge. This breakout is a strong bullish signal, especially considering the price trending well above the 50-day and 200-day moving averages. Such movement typically indicates continued upward momentum, suggesting that JASMY could sustain its bullish trajectory.

Current Market Performance

JasmyCoin currently trades at $0.037952, with a 24-hour trading volume of $339,049,261, reflecting a 9.68% increase in the last 24 hours. The current CoinMarketCap ranking is #59, with a market cap of $1,871,051,920. The circulating supply is 49,299,999,677 JASMY coins out of a maximum supply of 50,000,000,000 JASMY coins. Over the past week, JASMY has outperformed the global cryptocurrency market, achieving a 41.70% price increase compared to the market’s 1.00% decline.

Unfilled Fair Value Gaps

Despite the impressive rally, JASMY has left some unfilled fair value gaps behind. These gaps, located around the $0.032 and $0.028 price levels, represent regions of market inefficiencies. These gaps must be addressed for the price to stabilise, meaning the price may revisit these zones. Investors should view these levels as potential entry points for acquiring JASMY at lower prices.

Fibonacci Retracement and Extension Levels

The fair value gaps align with the 0.38 and 0.5 Fibonacci retracement levels, further confirming them as potential support zones. JASMY’s price could bounce back and aim for the 0.27 Fibonacci extension level around $0.046 following a possible retracement to these levels. Ultimately, the price may rally towards the strong resistance at $0.64, marking a significant long-term target for traders.

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Conclusion

JasmyCoin’s recent price movements and technical indicators suggest a bullish trend, with potential retracement opportunities for buyers. As the market addresses the unfilled fair value gaps and targets higher Fibonacci extension levels, JASMY remains a promising asset for investors seeking growth in the cryptocurrency market.