Search
Close this search box.

Search

Price Analysis: Jasmycoin Consolidates with a 3.76% Gain in the Last 24 Hours – Bears Threaten to Break Support

Join us on :

24-hours Price Analysis: Jasmycoin (JASMY) Seeks Breakout Despite Showing a 4.46% Decrease

Jasmycoin (JASMY) continues consolidating near its resistance zone as investors await a decisive move. Currently trading at $0.019885, Jasmycoin shows signs of stability with a 3.76% uptick in the last 24 hours. The next 24 hours will be critical for the token, especially as it hovers near key moving averages.

Exponential Moving Averages Acting as Key Levels

The chart clearly indicates that Jasmycoin is consolidating between its exponential moving averages (EMAs), which provide a good reference for short-term traders. The 20 EMA sits at $0.019968, acting as the nearest resistance level, while the 50 EMA at $0.019807 serves as immediate support.

Source: TradingView

These moving averages are crucial to determining the direction of the market. A breakout above the 20 EMA would suggest bullish momentum, potentially pushing the price toward $0.0210. However, failure to hold above the 50 EMA could see a drop toward the 100 EMA at $0.019483, marking the next significant support area.

Related article: Terra Classic (LUNC) Price Analysis – Will Bullish Momentum Prevail in the Next 24 Hours As it Looks to Breakout Above $0.000086?

ASO Indicator Shows Bearish Divergence

The Average Sentiment Oscillator (ASO) is offering early signs of bearish divergence. The red line at 53.71 is higher than the blue line at 46.29, indicating that selling pressure is slightly higher than buying interest. This divergence means that sellers could dominate the market in the short term despite recent upward price movement.

If this bearish signal strengthens before any potential upward continuation, Jasmycoin may see a brief correction. Traders should monitor the ASO closely as it nears a potential crossover, which could signal a shift in market sentiment.

Market Sentiment and Prediction

Jasmycoin has the potential to break out of its current consolidation phase, but this will largely depend on how the market reacts to its moving averages. A successful breakout above the 20 EMA could propel Jasmycoin toward the $0.0210 resistance level, a move that would likely attract more buyers. However, should selling pressure intensify, we could see Jasmycoin retesting the lower EMAs for support.

For now, Jasmycoin remains in a consolidation phase, and traders should proceed with caution. The next 24 hours will provide more clarity, especially as the price action nears key support and resistance levels.

Share this :

Facebook
Twitter
LinkedIn
Telegram
WhatsApp

XRP whales are actively moving their holdings as the crypto market faces a downturn. Whale Alert, a crypto tracking service,