Jasmycoin (JASMY) has been gaining traction over the past 24 hours, experiencing a subtle rise in price action. Currently trading at $0.020226, it shows signs of testing key resistance levels. The coin began its rally from $0.019470, representing steady price growth amidst increasing market demand.

EMA Support Levels Are Crucial

The exponential moving averages (EMA) on the chart—20 (red), 50 (green), 100 (blue), and 200 (purple)—are key indicators of market sentiment. Notably, the price has consistently stayed above the 20 EMA, a positive short-term indicator suggesting growing bullish momentum. The 50 EMA is also creeping upward, pointing to sustained buying pressure.

The proximity of the EMAs to the current price reflects a stronger market structure, which could attract more investors as they perceive lower risk. If this bullish trend continues, Jasmycoin could break past the $0.020226 resistance level and move toward the next target of $0.021000.

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RSI Signals Caution for Traders

The RSI divergence currently shows a reading of 4.08, signalling that Jasmycoin is moving into overbought territory. While this signals that the bullish trend is still intact, it also suggests that buyers may soon lose steam, potentially resulting in a pullback.

Traders should be looking for any dips or sell-offs, which may provide an opportunity for re-entry at lower prices. This consolidation phase could allow Jasmycoin to recharge before making its next big move.

Conclusion: Aiming for New Highs

Jasmycoin’s performance over the last 24 hours indicates a bullish trend, but traders must remain cautious due to rising RSI levels. The key focus will be on whether the price can sustain itself above the $0.020226 resistance and how it reacts to the pressure at the next resistance levels. Short-term traders could benefit from monitoring EMA trends and watching for any price corrections that could signal fresh buying opportunities.