24 Hour Price Analysis: JasmyCoin Experiences Bullish Momentum, Surging by 5.58% – Key Indicators Suggest Continued Growth

JasmyCoin (JASMY) has recently displayed an upward trajectory, attracting attention from traders and investors. Over the last 24 hours, the cryptocurrency has seen bullish momentum, with the price reaching $0.0245. Several key technical indicators hint that this surge could extend, making JASMY an exciting coin to watch in the near term. This analysis will examine the technical indicators to project JasmyCoin’s potential price movement in the coming hours.

EMA Crossover Signaling Upward Potential

The Exponential Moving Averages (EMAs) on the 1-hour chart are currently bullish, suggesting that the short-term momentum remains positive. Specifically, the 20-EMA ($0.0237), 50-EMA ($0.0232), and 100-EMA ($0.0227) are aligned in ascending order, signalling that buying pressure continues to build. The 200-EMA, sitting at $0.0220, is acting as a strong support level, reinforcing the overall bullish sentiment. Traders often look for such patterns to confirm an ongoing uptrend.

Additionally, the price remains well above all EMAs, a sign that upward momentum is still intact. Should this trend continue, the next significant resistance level to watch is around $0.0250, where some selling pressure could arise.

RSI Divergence Points to Strength

The Relative Strength Index (RSI) divergence is currently reading at 6.10, indicating that JasmyCoin is not in overbought territory despite its recent rise. This relatively low RSI suggests that there is still room for more upside movement before the coin becomes overextended. The RSI divergence also reflects increasing buying pressure, further supporting the possibility of continued gains.

Price Outlook: Possible Breakout or Consolidation?

With the price currently hovering at $0.0245, there are two potential scenarios. If the bulls manage to break through the $0.0250 resistance, JASMY could see a further rally, potentially targeting $0.0260 in the short term. On the downside, if selling pressure increases, the $0.0237 support level (20-EMA) could be tested. A breach of this level could lead to a retest of the 50-EMA at $0.0232.

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Conclusion

JasmyCoin is showing strong bullish momentum, backed by favourable technical indicators like the EMA crossover and an RSI divergence that suggests further upward potential. However, traders should remain cautious of key resistance levels around $0.0250. If the bulls manage to maintain control, we could witness a continuation of the uptrend in the next 24 hours.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.