- JasmyCoin surged from $0.0112 to above $0.014, breaking out of a prolonged consolidation phase.
- Price is holding strong at the $0.013 support, hinting at a potential continuation.
- A hidden bullish divergence on the MACD signals renewed upward momentum.
- Javon Marks sets a $0.278 target, projecting over 20x gains from current levels.
JasmyCoin (JASMY) is back in the limelight with bullish momentum gaining strength throughout the altcoin community. Having traded quietly for weeks with little trading action, JASMY recently jumped from $0.0112 to beyond $0.014, representing a steep reversal from its prior downtrend. This break through was supported by an increase in trading activity, reflecting fresh market demand and the possible initiation of a new bull trend
Following the initial upswing, JasmyCoin experienced a minor consolidation phase, with the price stagnating at the $0.013 mark. While the volume has moderated, support at the $0.013 mark holds firm. This horizontal action suggests the market is experiencing a wait-and-watch period, likely prior to the next bull-run.
JasmyCoin Sets Stage for 20x Rally
Technical analysis by crypto market strategist Javon Marks highlights an extremely bullish setup unfolding for JASMY. According to Marks, JasmyCoin has recently confirmed a hidden bullish divergence on the MACD indicator.
This technical sign occurs when the momentum gauge gets stronger while the price activity gets weaker, typically providing a sign that the underlying trend holds despite the short-term losses. Marks deems such divergence a strong sign that the recent consolidation will be fleeting and the larger uptrend will regain momentum soon.
Marks has established an aggressive target at $0.278 for JasmyCoin, translating to an impressive upside of more than 1,950% from the current price. He reiterates that the target emanates from a confirmed breakout pattern and solid technical support.
The formation of the hidden bullish divergence adds further weight to this outlook, indicating that JASMY could be on the verge of a sustained multi-phase rally. With the current technical setup and growing trader interest, JasmyCoin could potentially deliver more than 20x returns if bullish conditions persist.
Also Read: JasmyCoin Bulls Target $0.014+ as Short Liquidations Stack Up
