The recent U.S. presidential election, which resulted in Donald Trump’s win, has renewed vigour in the cryptocurrency market. Many altcoins, including JasmyCoin (JASMY), have enjoyed a bullish surge. Currently, JASMY is priced at $0.0205, and the altcoin shows signs of holding firm within the broader market rally despite a 2.69% decline in the last 24 hours. With the 20, 50, 100, and 200 EMAs providing key technical insights, we will examine where JasmyCoin may head in the next 24 hours.
EMA Analysis: Bullish Structure Holding
JasmyCoin’s price is currently fluctuating slightly above the 20 EMA at $0.020799, indicating that short-term momentum is still on the bullish side. However, the price is close to testing this level, which could act as a support if the bulls maintain control.
The 50 EMA at $0.020320 is the next critical support level. This medium-term moving average shows that even if the price dips below the 20 EMA, there is still significant buying interest that could prevent a larger sell-off.
The 100 EMA sits at $0.019468, providing a deeper support level. If JasmyCoin’s price were to experience a more significant correction, this level could serve as a reliable base for a rebound.
The 200 EMA at $0.018778 marks a longer-term trend indicator. Should prices fall drastically, this level would represent a major support zone, but the current uptrend makes such a drop unlikely within the immediate 24 hours.
The EMAs are well-aligned in ascending order, suggesting that JasmyCoin is in a solid uptrend. If the price remains above these EMAs, the altcoin could continue its upward trajectory.
Related article: Terra Classic (LUNC) 24 Hours Price Analysis: A Steady Ascent with Strong Support–Will The Resistance at $0.00009800 Be Broken?
RSI Divergence Warning
The RSI Divergence indicator shows a value of -8.445824, signalling a potential warning for traders. This negative divergence suggests that while the price rises, momentum decreases, which could lead to short-term consolidation or even a price pullback. JasmyCoin may be entering an overbought zone, meaning traders should be cautious about chasing the rally without confirming further upward momentum.
Conclusion
JasmyCoin has benefitted from the broader altcoin surge following Trump’s election win, with EMAs indicating solid support levels. However, traders should pay attention to the RSI divergence, which could foreshadow a temporary retracement. The $0.020320 level (50 EMA) will determine if JasmyCoin can maintain its bullish stance. A drop below this may signal a deeper correction, but the altcoin remains in a favourable position for further gains in the mid-term.
