JASMY Price Rises 14%, Can Bulls Maintain the Upward Trend?
- JASMY’s price surged over 14% in the last 24 hours, suggesting bullishness.
- JasmyCoin crypto price is trying to break out above the 50-day EMA level.
JasmyCoin price analysis shows that buyers are returning, and a significant breakout above the 50-day ($0.01447) EMA level is likely. JASMY’s price rose 14% in the last 24 hours and 22% over the last week which reversed the short-term trend in the upward direction.
However, the continuation of this bullish momentum depends on whether JASMY’s price can break above the levels of $0.01447 and $0.02144. JasmyCoin price has been in bearish momentum for a prolonged time trading below the 50-day and 200-day EMAs suggesting long-term bearishness.
Moreover, in the last few days, the altcoin has performed well and showed a decent bounce. Therefore, bulls are also active and it will be not easy for bears to pull the price further down.
According to CMC data, at the time of writing, JASMY is trading at $0.01260 with an intraday increase of 14%. The daily trading volume is decreased by 2% and the volume to market cap is 18.42% suggesting good liquidity.
Will JasmyCoin (JASMY) Sustain Price Surge?
Source: Tradingview
The MACD curve is heading in the upward direction with a green histogram. Furthermore, it also formed a bullish crossover, indicating breakout is possible. The RSI stands at 53 also heading towards the overbought zone suggesting positive momentum.
The possibility of the breakout above the $0.01447 and $0.02144 levels will increase when bulls succeed in maintaining the bullish momentum. Meanwhile, JASMY’s price will need to attract more buyers to start a fresh bullish rally over the technical charts.
The current situation requires investors to be patient and look for a clear breakout above $0.01447 and $0.02144 levels before making any moves. Investors should avoid the fear of missing out to minimize losses.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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