Jasmycoin (JASMY) has found significant support over the past 24 hours, with the cryptocurrency maintaining its position above key moving averages. After briefly retracing to a low of 0.021752, JASMY saw a resurgence and is currently trading at 0.021950. The ongoing battle between bulls and bears can be observed through key technical indicators, including the EMA and RSI divergence, which offer insights into potential price movements.

EMA Signals Indicate Stability

JASMY’s price movement over the past 24 hours has been closely aligned with its exponential moving averages, which provide a strong indication of market sentiment. The 20 EMA at 0.020673 has been acting as dynamic support, successfully pushing the price upwards. Similarly, the 50 EMA (0.020804) and 100 EMA (0.021027) have also supported the price in the short term, suggesting that the current bullish trend could hold steady.

The price has stayed above the 200 EMA, located at 0.020691. This crucial support level gives the bulls more confidence in their positions, as it typically represents a strong buying opportunity when prices are above it. The fact that the price has stayed above all major EMAs suggests that JASMY is currently in a stable position with the potential for further gains.

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RSI Divergence Shows Continued Momentum

The RSI divergence indicator, showing a value of 19.67, highlights that there is continued bullish momentum in the market. RSI readings below 30 typically indicate that an asset is oversold, while a higher number, as seen in this case, suggests continued buying pressure. The RSI has been gradually increasing, signaling that buyers are gaining control, with no immediate threat of overbought conditions.

While the RSI is still in a safe range, traders should monitor it closely as it moves towards the 30-50 zone. Any push beyond these levels could signal overbought conditions, potentially triggering a short-term correction.

Outlook for the Coming Day

As Jasmycoin continues to trade above its major EMAs, it seems likely that the uptrend will continue, especially if market conditions remain favourable. A breach of the 0.022000 resistance could open the door to further gains, possibly testing the next psychological barrier of 0.023000. However, should bearish pressure increase, the 200 EMA at 0.021027 will serve as a critical support level.