JasmyCoin (JASMY) has experienced significant selling pressure in the past 24 hours, with the price struggling to hold above key support levels. After a brief bullish rally, JASMY has retraced nearly 8% from its recent peak, currently trading at $0.020486. The question is whether this downtrend will continue or if bulls can regain momentum. Let’s examine the technical indicators on the chart to provide a detailed analysis of what’s likely to unfold in the next 24 hours.

Price Movement and Key Levels

The chart shows that JASMY initially rallied to a high of $0.025000 on November 10 before starting its current correction. Over the last few hours, JASMY has fallen below the 20 and 50 EMAs, with the 20 EMA at $0.022272 and the 50 EMA at $0.022421. This indicates a short-term bearish trend, as these moving averages act as resistance.

JASMY has also dipped below the 100 EMA, which sits at $0.021874, signalling that the medium-term momentum is weakening. The current price of $0.020486 is just above the 200 EMA, positioned at $0.020851. This suggests that the 200 EMA could act as crucial support in the next few hours. If this level is breached, we may see JASMY heading toward the psychological level of $0.0200.

Related article: Dogecoin Gains Traction with 108 Whales Joining the Surge

RSI Divergence and Momentum

The RSI divergence reading is at a bearish -15.54, highlighting that bearish momentum is accelerating. The recent negative divergence suggests that there could be more downside before a potential reversal. The RSI’s position indicates that sellers are firmly in control, and the possibility of a short-term recovery seems slim unless buying volume picks up.

Conclusion

JASMY’s current price action is in a precarious position. If the price fails to hold above the 200 EMA at $0.020851, it could trigger further downside toward $0.0200. The key resistance to watch is the 20 EMA ($0.022272), which needs to be reclaimed for any meaningful bullish recovery.