- Jasmycoin saw a decrease of 18% over the past three days and strengthened the Bearish structure.
- The level of $ 0.0125 was the next support to look at.
Jasmycoin [JASMY] has dropped 56% since 1 February. The sellers had control. The defense of the level of $ 0.01713 lasted seven days, but the bears came triumphantly on March 4.
Since then, Jasmycoin has re -tested the same level as resistance.
Most Altcoins bleed against Bitcoin [BTC] In the long term. Jasmy/BTC has been falling since mid -December and was already below the LOS points of November. Jasmy/USD is also trending down and fast.
Jasmy drops almost 20% after losing the most important support level
Source: Jasmy/USDT on TradingView
The RSI was stubborn under the neutral 50 level and has been since mid-December. This underlined the Bearish Momentum in the game.
Each downward price bone has seen a retest of the previous HTF support, such as $ 0.038 and $ 0.032 (white boxes).
The levels of $ 0.0244 and $ 0.0171 were the latest support resistants. The CMF was at +0.02, which indicates a lack of significant capital outflow of the market.
Yet this Jasmy Bulls offered little hope in the face of the overwhelming downward trend.
The following support levels were at $ 0.0125 and $ 0.00083. The first was important in June-July 2022, and then again in February 2024. Perhaps the price decrease here would stop. But traders should retain a bearish prospect.
The open interest has also been in a downward trend since the beginning of February. This steady decrease in speculative interest in recent weeks was an indication of the bearish sentiment.
The 2 -week liquidation heat showed that the liquidity cluster could not stop the bears at $ 0.015. Instead, prices fall quickly.
The absence of bids and non -repellent sales emphasized the chance of further losses in the coming days.
The heat of 2 weeks and longer periods such as 1 months and 3 months emphasized the levels of $ 0.02 and $ 0.025 as the strongest magnetic zones above the price.
As it looks now, it was very unlikely that Jasmycoin would soon be attracted to these liquidity pools. Traders have little reason to go long, unless they scalper and can use the downward trend to sell to sell.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer
