14% Bullish Wave: Can JASMY Flip Resistance Into Support?

• JASMY rallied over 14%, hitting $0.01980.
• Trading volume has surged by more than 545%.

The recovery attempts of the overall crypto market have brought mixed signals across the assets. Notably, Bitcoin and Ethereum have bounced back to their recent highs, while other altcoins are swinging on the green and red ropes. Within the altcoin pack, JasmyCoin (JASMY) secured a spot among the top three gainers, with a 24-hour price jump of over 14.96%.

In the early hours, the asset traded at its bottom range of $0.01714. After testing multiple key resistances between $0.01715 and $0.02026, JasmyCoin has climbed toward a high of $0.02027. At press time, the asset traded at around $0.01980, with a market cap of $979 million. Moreover, JASMY’s daily trading volume has exploded by over 545%, reaching $189 million.

In addition, JasmyCoin has gained by over 61% in the last thirty days. The asset kicked off the month at its lowest zone at $0.010. With a series of ups and downs, and a steady bullish shift, the asset chose to mount to the current trading level

Can JASMY Hold Its Bullish Pace?

The four-hour session’s trading pattern displayed bullish momentum, and the asset’s immediate resistance might be found at the $0.01986 range. With the continued upside correction, JASMY bulls could initiate the golden cross to take place, targeting the crucial price ranges between $0.01991 and $0.02012

If the bears took control of the asset, substantial risks can be expected. Also, the price might fall back to the low level of $0.01974. A sustained correction on the downside could invite the death cross to unfold. The bulls may likely send the JASMY price to its former support zone at around the $0.01967 range.

*JASMY chart (Source: TradingView)*The technical chart analysis of JASMY reveals that the Moving Average Convergence Divergence (MACD) line has crossed above the signal line. This crossover points to the bullish momentum and further strength for the asset’s price to rise. Besides, the Chaikin Money Flow (CMF) indicator found at 0.33 generally implies that the buying pressure is strong in the market. The capital is flowing into the asset, supporting the bullish outlook

JASMY’s daily Relative Strength Index (RSI) value staying at 71.53 suggests its overbought territory, hinting at a potential price consolidation or a pullback. Furthermore, the Bull Bear Power (BBP) reading of the asset at 0.00248 indicates mild bullish pressure, but the momentum is not strong enough.

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