- Jasmy has violated a one -month consolidation channel and could collect up to $ 0.05.
- The price rally can slow down weekly profitable; However, technical indicators show a possibility for a higher step.
In the last 24 hours, Jasmycoin [JASMY] has seen a huge price rally, with 26%, with a volume of $ 525.23 million – an increase of 440%. The coin traded at $ 0.034, at the time of press.
According to the analysis of Ambcrypto, there is room for more growth in the market; Certain obstacles, however, can slow the potential rally of Jasmy.
Can the upward movement be maintained?
Jasmy recently broke from a descending channel formed by lower highlights and lows within defined support and resistance. Such pimples usually indicate a rally movement.
This channel had been formed since December 4, 2024, suggesting that Jasmy suggests a likely accumulation of Jasmy at a lower level.
Currently it restores the resistance level of this channel. If this level turns around to support, Jasmy could collect 84.79% to $ 0.059, last reached on December 5, 2024.
Source: TradingView
Although bullish sentiment remains, Jasmy could possibly struggle because certain cohorts sell their assets.
Selling can pause the rally of Jasmy
Jasmy has registered weekly profit activities for the first time since September 2024, with $ 1.89 million to the assets sold. This was determined by Jasmy’s Exchange Netflow on Coinglass, who became positive last week.
A positive Netflow indicates that traders sell, while a negative Netflow suggests a bullish sentiment.
Source: Coinglass
The financing percentage, which measures the premium that has been paid to maintain positions and to keep the difference between the spot and futures prices low, shows that short traders are in control.
With a financing percentage of -0.0110%, this suggests that the price could fall, because short contracts are heavily financed, which implies confidence among these short traders.
These negative statistics have contributed to the delay in Jasmy who continue his bullish rack and signal potential further struggles.
Indicators remain positive
Positive signs of indicators suggest that the current delay that Jasmy experiences can be temporary.
The advancing average convergence Divergence (MACD), which helps to identify trend covers, has added the bullish movement. It has formed a golden intersection, with the short -term increasing average (blue) crossing over the long -term average (orange).
Source: TradingView
This pattern confirms a strong upward trend in the market, which suggests that Jasmy could collect higher.
Realistic or not, here is the market capitalization of Jasmy in the conditions of BTC
The relative strength index (RSI) measures changes in the price momentum and has been crossed in the bullish zone above 50. With a current reading of 55.05 and trending upwards, it indicates further growth potential.
In general, Jasmy Bullish remains, because indicators and graph patterns suggest that the sales pressure could disappear quickly.