JasmyCoin (JASMY) is currently trading at $0.008928, showing a decline of 0.81% over the past day. The coin’s market capitalization stands at $441.41 million. The price has increased by 27.9% in the past week, showing potential for growth.
Source: CoinMarketCap
JASMY Set for Bullish Surge After Consolidation
Crypto analyst Jonathan Carter highlighted that JASMY is narrowing right below the top of a falling wedge formation in the 2-day chart. This indicates that the coin is rejected at the peak of the structure, but the general arrangement is bullish. Once the resistance has been overcome, a breakout may occur during the healthy consolidation phase.
He also established important upside goals after the breakout confirmation. Potential price movements include targets of $0.014, $0.021, and $0.032. An actual breakout would bring about tremendous growth, and Carter stressed the need to wait to be confirmed before taking action.
Source: X
Additionally, another analyst, Whales Crypto Trading, mentioned that JASMY is contracting in a downward channel. This trend predicts a likely price growth of 45–50%. Any channel break will trigger a solid bull rally, and the gains will be huge over the coming days.
Source: X
Also Read: Pump.fun (PUMP) Drops 3.09% but Eyes Potential Rally to $0.0063
Trading Volume and Open Interest Fall
According to CoinGlass data, the trading volume has decreased by 31.12% to $89.73 million. The open interest has also decreased by 6.87%, currently standing at $33.34 million. The OI-weighted funding rate is at -0.0299%.
Source: CoinGlass
Within the last 24 hours, there were liquidations of $172.66K. Long positions covered $146.30K, and short positions constituted $26.36K.
Source: CoinGlass
RSI Near Overbought While EMAs Remain Bullish
The RSI is at 62.36, showing a moderately overbought state. The RSI is favorable to buying pressure, although there will be temporary resistance on the coin. A possible correction would be observed should the RSI go deeper into the overbought region.
In terms of exponential moving averages (EMA), JASMY is showing a positive formation. The EMA 20 is at 0.00771, which indicates a short-term positive trend. The 50 EMA stands at $0.00753, giving it extra reinforcement. Nevertheless, the price is still lower than the 200-day EMA of $0.01095.
Source: TradingView
Analysts expect a major breakout soon, with the current consolidation phase likely to lead to more significant movement. Traders should closely monitor key levels, as the direction of JASMY’s price will be determined in the coming days.
Also Read: Shiba Inu Price Stabilizes Above $0.0000810, Bulls Eye Major Breakout
