Jasmycoin (JASMY) Faces Key Resistance: Will It Break Out or Pull Back in the Next 24 Hours While Hovering Around $0.02106?

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The start of the new trading week has brought mixed signals for Jasmycoin (JASMY), as it faces key resistance levels after a brief rally. While the price hovers around $0.02106, traders are waiting to see if the token can overcome its latest resistance or experience a pullback. By analysing the current EMAs and RSI divergence, we can forecast the potential price movement over the next 24 hours.

Exponential Moving Averages: A Bullish Signal?

Jasmycoin has maintained a bullish stance in recent sessions, with the price remaining above key EMA levels. The 20 EMA stands at $0.02095, with the 50 EMA at $0.02089, 100 EMA at $0.02076, and 200 EMA at $0.02047. The closeness of these moving averages suggests a tight support zone, especially around the $0.02089-$0.02047 range. As long as Jasmycoin stays above these levels, the market sentiment remains bullish.

For traders looking for an upside, breaking past the recent high of $0.02154 would be a significant win for the bulls, as it would likely lead to a continuation of the uptrend. However, if the price closes below the 20 EMA, this could begin a more bearish phase.

RSI Divergence: Is a Correction on the Horizon?

Despite Jasmycoin’s ability to hold above the EMAs, the RSI divergence indicates a potential bearish divergence. Currently showing a value of -4.56, the RSI suggests weakening momentum. If the price fails to break through its resistance at $0.02154, this could lead to a short-term correction. Traders should be cautious, as continued negative divergence might push the price towards lower support levels around $0.02047.

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Conclusion: Prepare for Volatility

As the week progresses, Jasmycoin appears to be at a critical juncture. The price needs to break above $0.02154 for the bulls to continue the rally. Otherwise, the divergence in the RSI may result in a correction toward lower support levels. Traders should monitor these indicators closely, as they will likely dictate the price action in the next 24 hours. Both breakout and pullback scenarios are on the table, so preparing for volatility is essential.

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