- JasmyCoin is approaching a key short liquidation zone between $0.0132 and $0.0136.
- Price is holding above the 50 and 100 SMAs on the 4-hour chart, hinting at bullish momentum.
- The 200 SMA at $0.01419 serves as a major breakout target.
- MACD and RSI indicators suggest room for continued upward movement.
JasmyCoin (JASMY) will see a bullish rebound as it heads toward key liquidity regions and gains on technicals. Recent data emanating from Coinglass’s liquidation heatmap as well as TradingView charts signal a breakout can occur as short liquidations pick up momentum and the price setup improves.
JasmyCoin Liquidation Heatmap Points to Upward Pressure
According to the JASMY 24-hour liquidation heatmap, significant short liquidations are stacked between the $0.0132 and $0.0136 levels, with the highest concentration near $0.0135. These brightly colored regions indicate where leveraged short positions are likely to be wiped out if price continues climbing.
Such liquidity pools will act like a magnet on prices because market makers will move into these regions so as to trigger stop losses and liquidations.
At its current price of approximately $0.01297, the chart is entering a high-interest liquidation region, and as such, we can expect bulls will view this liquidity as a short-term gain opportunity.
Also Read: JasmyCoin Sees 40% Price Surge: Is a 31,200% Rally Next?
Technical Indicators Support the Bullish Narrative
On the 4-hour chart, JASMY supports just above the 50-period SMA ($0.01296) and 100-period SMA ($0.01290). Such a crossover is typically viewed as a bullish indication, as it signifies a shift of momentum from bearish into neutral-to-bullish status.
The following key resistance is the 200-period SMA at $0.01419, which matches quite closely the upper boundary of the liquidation zone, confirming this as a breakout point.
Relative Strength Index (RSI) at 51.78 signals a neutral trend with further upside potential. Furthermore, the MACD histogram is on a bullish side, and the signal line has recently crossed over at a level greater than zero, yet another classic indication of a positive trend.
JASMY Ready for the Next Leg Up?
The liquidity clustering and technical support at levels higher than existing prices indicate a brighter JasmyCoin forecast. In case the bulls manage to maintain their footing and break through the resistance level of $0.0132-$0.0136, a move toward the area of $0.0141-$0.0142 (200 SMA) appears quite plausible.
Such a breakout would validate a trend reversal potential and could lay the groundwork toward a larger rebound back toward pre-May highs. But a failure at maintaining support at $0.0128 would discount the bullish setup and turn around into $0.0125.
Also Read: JasmyCoin Set for Breakout: Why $0.0145 Could Spark a Powerful Rally
