24 Hours Price Analysis: Jasmycoin Faces Consolidation Amid Mixed Signals as it Declines by 0.90% – What’s Next for JASMY?

As we head into the new week, Jasmycoin (JASMY) is experiencing consolidation around the $0.02322 price level. Over the last 24 hours, the token has been grappling with both bullish and bearish forces, with key technical indicators offering mixed signals. The token’s movement has been restrained by short-term resistance, while support from moving averages seems to be holding strong with a 0.90% decline. In this analysis, we’ll examine the technical factors at play and explore what traders might expect from JASMY over the next 24 hours.

Exponential Moving Averages (EMAs) Highlight Short-Term Resistance and Support

Looking at the chart, the EMA lines provide a clear view of the critical levels to watch for Jasmycoin.

Jasmycoin is trading slightly below the 20-EMA, which is currently at $0.02366. This level is acting as a short-term resistance point. If JASMY can break through this, it might see a brief rally toward the next resistance zone.

The 50-EMA at $0.02359 is positioned just above the current price and serves as minor resistance. Together with the 20-EMA, these levels could make it difficult for the price to push higher without significant buying momentum.

On the downside, the 100-EMA at $0.02346 and the 200-EMA at $0.02302 are providing support. These levels will be crucial in holding the price, as any break below the 200-EMA could spell a deeper correction.

RSI Divergence Indicates Bearish Sentiment

The RSI divergence is currently flashing a value of -1.719, signalling that bearish sentiment is creeping in. This negative divergence suggests that selling pressure is increasing, and without a shift in momentum, we may see further downside risk. Traders should closely monitor the RSI in the next 24 hours, as any sustained decline could confirm a bearish trend.

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Conclusion

Over the next 24 hours, Jasmycoin’s price action will likely depend on its interaction with the key EMA levels. With resistance holding at the 20-EMA and 50-EMA, the token could face a tough time pushing higher unless bullish momentum returns. The support from the 100-EMA and 200-EMA should provide some relief if the selling pressure intensifies. However, the negative RSI divergence is a cause for concern, indicating that the bears might be gaining control.

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.