As a researcher with a background in financial markets and experience in analyzing cryptocurrencies, I believe that both JasmyCoin (JASMY) and Pepe Coin (PEPE) are worth considering for investors looking to rebalance their portfolios and potentially add some trending assets.
As we approach the end of June and the first half of the year, every investor should be evaluating the status and gains of their portfolios. This is an opportune moment to assess market trends and contemplate rebalancing your investments. In this article, we’ll explore several promising cryptocurrencies that could help bolster underperforming portfolios.
1. JasmyCoin (JASMY)
Over the past ten days, JASMY‘s price has been consistently hitting new highs. However, it might be time for a pullback soon. Despite this potential retreat, the price remains above both its 50-day and 200-day simple moving averages. Additionally, there is growing support for the token around the $0.037 level, which represents a 0.5 Fibonacci retracement. In the recent past, JASMY’s price spiked up to $0.0425, marking a new peak, but subsequently dropped by approximately 8%.
As an analyst, I would observe that on the 30-minute chart, the JASMY price has reached a key resistance level at $0.0372 – the top of a previous price range that was broken out from. Should the price action drop below this mark, it could potentially re-enter the range.
The 0.5 Fibonacci retracement level, situated below the current price range, aligns with an open value gap (OVG). This alignment suggests the potential for a 23% pullback from the present price. Conversely, buyers continue to fight for upward momentum, targeting $0.049, $0.059, and $0.064. They might face some resistance around the $0.042 level.
JASMY’s price might bounce back after a expected correction, but there are concerns among crypto investors about a major dip for this coin. The sudden rise in JasmyCoin was due to a misinterpretation of Apple’s latest announcement regarding the integration of Japan’s ‘My Number’ feature into iPhones.
2. Pepe Coin (PEPE)
In the realms of Ethereum and Solana, meme coins have recently achieved impressive progress, with some even surpassing the performance of Bitcoin and prominent altcoins. Following Pepe’s achievement of a fresh all-time high in May, Floki reached a new record high this week.
Whales play a pivotal role in fueling the surge of meme coins as they transfer vast quantities of tokens worth billions. However, their actions come with heightened risk as well. Whales’ activities are responsible for market instability and can lead to substantial losses, disproportionately impacting smaller investors.
During the past four hours, there’s been a developing triangle pattern on the chart, indicated by rising support and resistance lines. If this pattern is confirmed, it could result in a potential price increase of 15% for Pepe. This triangle has emerged as the token stabilized following its surge to a new record high.
The triangle’s validity is maintained as long as the price remains between its defined bounds. Buy orders from traders are poised just above the x-axis in anticipation of a potential breakout. Such an event should be preceded by substantial trading volume. The ensuing 15% price surge for PEPE would propel it to $0.0000178, potentially igniting fear of missing out (FOMO) among investors eager to join the trend. This triangle could mark the initiation of a larger upward trend above $0.00002.
In June, traders looking to breathe new life into underperforming portfolios might consider investing in JASMY and PEPE, two currently popular cryptocurrencies. The surge of Bitcoin’s price up to $72,000 strengthens the optimistic perspective and indicates a persistent bull market. However, before making any purchase, investors must diligently research these tokens to ensure their decision is well-informed.
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2024-06-06 21:34