Price Analysis: Jasmycoin (JASMY) Price Holds Firm Amid EMA Resistance, Declining by 1.30% in 24 Hours: Is a Reversal Imminent?

JASMY Price Analysis: Jasmycoin Struggles for Momentum Despite a 1.68% Surge – What Does the Weekend Holds?

Jasmycoin (JASMY) has experienced modest volatility over the past 24 hours, holding ground near the $0.01854 level. Traders are closely watching its price action, as several technical indicators suggest that a trend reversal could be on the horizon. With the crypto market moving at breakneck speed, Jasmycoin’s price behaviour has traders anticipating what’s next. Let’s dive into a detailed 24-hour analysis to uncover key insights.

In the 24 hours, JASMY has hovered around $0.01854, registering a 1.30% decline. The 1-hour candlestick chart reveals that the price has tested the $0.01854 support level multiple times, suggesting that this could serve as a critical price floor. However, the overhead resistance levels are becoming a concern.

Source: TradingView

Looking at the Exponential Moving Averages (EMA) indicators on the chart, Jasmycoin faces significant resistance. The price has remained below key EMAs (20, 50, 100, and 200) for most of the day, with the 20 EMA (at $0.01867) providing immediate resistance. The 50 EMA ($0.01886) and 100 EMA ($0.01915) are also looming overhead, creating a bearish environment where sellers seem to dominate. These EMAs form a solid resistance zone that JASMY must break through to spark any upward momentum.

Related article: Anticipating a Surge: Will Shiba Inu Break Its Price Records Soon?

RSI Divergence Suggests Momentum Weakness

The Relative Strength Index (RSI) indicator shows divergence, with the RSI Divergence reading at -3.96. This negative divergence typically indicates weakening bullish momentum, suggesting buyers may be losing control and a stronger downward move could be forthcoming if key support levels fail.

Conclusion and Outlook

While Jasmycoin has managed to sustain itself above $0.01854, it faces steep resistance from the 20 EMA and higher EMAs, indicating potential downside pressure. We may see a continued bearish trend if the price cannot clear these resistance zones. Traders should watch for any breakouts above the EMAs, which could signal a reversal or strengthening of bullish momentum.

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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.

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