In the wake of a global market bloodbath triggered by heightened geopolitical tensions between Iran and Israel, Jasmycoin (JASMY) suffered a steep decline, similar to the rest of the crypto market. The missile attack escalated uncertainty, and with Bitcoin plunging to $60,541, over $290 million in long positions were wiped out. While Jasmycoin has since attempted a slight recovery, it remains vulnerable to market conditions. Let’s break down the recent price action and what technical indicators reveal about JASMY’s short-term trajectory.

Geopolitical Crisis Weighs on JASMY

The missile strike from Iran has added immense pressure on global markets, creating a risk-off sentiment among investors. The crypto space, known for its high volatility, was particularly impacted, with Jasmycoin experiencing a notable drop to $0.020317 with a 10.60% decline in 24 hours. Although the price has since recovered slightly to $0.020454, market participants remain cautious.

Bitcoin’s sharp drop below $61,000 was a key driver behind the sell-off, as its price movements significantly impacted the broader crypto market. Altcoins like JASMY followed BTC’s trajectory, seeing amplified losses due to market-wide liquidations.

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Technical Analysis Signals

Jasmycoin is trading below significant resistance levels, particularly the 200 EMA at $0.022311. The 20 EMA ($0.021777) and the 50 EMA ($0.021896) further confirm the current bearish trend, suggesting that JASMY is not yet in a position to reverse its downward movement.

Despite these bearish signals, the RSI divergence shows a reading of 0.524733, suggesting a slight increase in buying interest. However, this alone may not be enough to push the price above critical resistance zones in the immediate term.

Market Sentiment and Potential Scenarios

For JASMY to regain bullish momentum, it must break through resistance near the 50 and 200 EMAs. The geopolitical situation between Iran and Israel will likely continue to influence investor sentiment, and any further developments could either stabilize or further erode market confidence. Traders should monitor Bitcoin’s price action closely, as it remains the dominant force in shaping JASMY’s market behaviour.