As a seasoned crypto investor with over five years of experience in this volatile market, I’ve seen my fair share of price swings and partnership announcements. The recent surge in Jasmy’s price, up by 10% in just 24 hours, has caught my attention once again. The confirmation of the new partnership between Jasmy and NOWPayments is undoubtedly a significant catalyst for this move.
The cost of JASMY surged by 10% over the past 24 hours, reaching approximately $0.267 during European trading sessions on Monday. This growth can be attributed to two main factors: firstly, Jasmy and NOWPayments announced a new partnership, enabling businesses in Japan to accept payments using JasmyCoin. Secondly, the price increase might also be related to the recent Bitcoin price recovery triggered by large investors buying up Bitcoin during the potential end of its corrective phase.
This Breakout Hints at a 97% Gains for Jasmy Price
JasmyCoin is particularly responsive among cryptocurrencies. With Bitcoin showing signs of recovery, JASMY has already gained over 10% according to CoinGecko. The price movement of JasmyCoin follows the 21-day and 50-day moving averages but falls below the 200-day simple moving average. This indicates a neutral position for the asset, as there is an equal balance between support and resistance levels.
As an analyst, I’ve observed that JASMY last traded beneath its 200-day Simple Moving Average (SMA) back in January. This indicates a generally bullish outlook for the asset. However, following the establishment of a new yearly high, Jasmy’s price dipped into a consolidation range during market downturns, suggesting a bearish trend.
As a researcher studying the cryptocurrency market, I’ve noticed that Bitcoin’s price trend suggests a continuous upward momentum. Consequently, this could potentially lead Jasmy’s price to extend its gains, surpass previous resistance levels, and reach as high as $0.055 – marking a significant 97% increase from the current value. Key obstacles on the path to growth include the resistance levels at $0.04 and $0.051.
Oscillators RSI and MACD Suggest Trend Reversal
The Jasmy RSI, a relative strength index with a 14-day moving average, has shifted to a bullish stance. Currently at 50.87, it has surpassed the middle mark. This development follows the initiation of the bull trend on July 6, post the Bitcoin price downturn. The upward trajectory of this indicator suggests an intensifying buying pressure for Jasmy.
As a researcher observing market trends, I’ve noticed an intriguing pattern with JASMY’s Relative Strength Index (RSI). Specifically, on July 9, the RSI line crossed back above its moving average (MA), suggesting the start of an uptrend. Historically, this occurrence has been followed by a significant rally for JASMY, as it did one month prior when it gained approximately 148%.
During this period, the MACD indicator on the daily chart signaled a bullish shift for Jasmy as it exhibited a bullish crossover event. This significant indication implies and reinforces that Jasmy’s price has transitioned from a downward trend to an upward trend.
Bottom Line
Based on a recent examination of significant Jasmy metrics, there are indications that the cryptocurrency’s price trend could be shifting. This prediction implies that Jasmy might be experiencing a pivotal moment, with technical signs suggesting a potential change in its current upward trend. The value of Jasmy could surge by as much as 97%, surpassing its previous peak attained in early June.
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2024-07-15 11:25