As a seasoned crypto investor with scars from past bear markets etched deep into my financial psyche, I can’t help but feel a glimmer of hope when I see JasmyCoin’s technical structure showing signs of strength. Tuesday’s price action, with JASMY up 3% and traders’ interest piquing, is reminiscent of the early stages of a bull market.
1. On Tuesday, JASMY displayed a stronger underlying framework, reinforcing the work done since the recovery began last week. According to the JasmyCoin price forecast graph, traders expect a revisit to the peak from the previous month, which was approximately $0.0445.
JasmyCoin Price Prediction: Assessing the Short-Term Bullish Structure
During the American trading hours on Tuesday, JasmyCoin’s price stayed around $0.0315. This was a 3% rise compared to its price from the last 24 hours, as indicated by data from CoinMarketCap.
Trading volume is currently at $160 million and the market capitalization stands at $1.55 billion, which are increasing figures. This growth has sparked greater interest among traders.
1. The positive trend for JASMY started following the sell-off in July, which found a solid base at $0.02, aligning with the 200-day Exponential Moving Average (EMA).
In the midst of an overcrowded market where many were selling, shrewd traders identified chances to purchase at lower prices. This influx of buying power paved the way for a robust trend shift.
Bulls took down the critical resistance at $0.025, close to the 78.6% Fibonacci level and at $0.03.
As a crypto investor, I believe there are signs that it’s a good time to consider buying JasmyCoin based on several indicators. The technical chart suggests that a potential breakout is on the horizon, possibly reaching June’s peak price of $0.0445.
Traders may increase profits with entries above $0.031, with support confirmed at $0.025.
1. When the Moving Average Convergence Divergence (MACD) indicator indicates an uptrend by staying above the neutral zone, it’s a sign to buy. As the green bars in the MACD histogram become larger, JASMY is expected to gather momentum and potentially overcome the resistance at $0.035 and $0.04.
1. When a ‘golden cross’ appears on the same 4-hour chart, it often indicates a higher likelihood of a substantial price surge. This pattern is created when a brief moving average surpasses a prolonged one, possibly suggesting an upcoming bullish movement.
1. Predictions on JasmyCoin’s price show that the golden cross could serve as a buy signal, suggesting an upcoming rise in value. Yet, to ensure accuracy, it’s crucial to complement this indicator with others such as the MACD and the Relative Strength Index (RSI) for confirmation.
In other words, if the selling force intensifies among traders looking to cash out their profits, it might hinder JASMY’s potential growth. A drop below $0.03 could lead to significant losses, with the downside risk potentially escalating towards the support levels of $0.025 and $0.02.
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2024-07-30 21:59