Jasmycoin (JASMY) demonstrated promising movement over the past 24 hours, surging to a high of $0.04330. However, it has since experienced a pullback, declining by 3.67%. The market’s shifting sentiment and technical indicators suggest a critical juncture for JASMY. Traders should pay close attention to key moving averages and momentum oscillators to anticipate the next move.
JASMY Price Movement Overview
JASMY’s price chart reveals significant volatility. After touching $0.04330, the token failed to sustain its bullish momentum and has retraced to $0.03793 at the time of writing. This downward movement coincides with the price slipping below the 20-period Exponential Moving Average (EMA) at $0.03865. The EMA alignment shows a bearish crossover, with the shorter-term EMAs (20 and 50) trending below the 100 and 200 EMAs.
Moving Averages Signal Bearish Sentiment
The EMA configuration highlights a bearish sentiment in the market:
- 20 EMA ($0.03865): Acts as immediate resistance.
- 50 EMA ($0.03874): Indicates an additional layer of resistance.
- 100 EMA ($0.03808): Has been breached, further confirming bearish pressure.
- 200 EMA ($0.03702): The last line of support before a potential breakdown.
If JASMY fails to recover above the 20 and 50 EMAs, further downside is likely. Conversely, reclaiming these levels could signal a reversal.
Related article: Jasmycoin Price Analysis: JASMY Struggles Amid 24 Hours 4.68% Downward Pressure – What to Expect
RSI Divergence Hints at Weak Momentum
The Relative Strength Index (RSI) Divergence (5, 14) has dipped into negative territory, currently at -15.07. This indicates weak buying momentum. Historically, RSI readings below zero often suggest bearish conditions and the possibility of extended losses unless a sharp reversal occurs.
Key Levels to Watch
- Support: Immediate support lies at the 200 EMA ($0.03702). A breakdown below this could lead to a test of the $0.03500 level.
- Resistance: Immediate resistance is at the 20 EMA ($0.03865), followed by $0.03950. Breaching these levels could reignite bullish momentum.
Jasmycoin’s recent price action reflects market uncertainty. With the EMAs and RSI signalling bearishness, traders should proceed cautiously. Monitoring the $0.03700 support and $0.03865 resistance is crucial for identifying potential breakout or breakdown scenarios.
