Jasmy Coin price rose on Monday, continuing the bullish trend that started in December when it fell to as low as $0.0028. It jumped to a high of $0.0074, the highest level since Sept. 18. And it jumped more than 152% from its lowest point in December, we wrote. here.
JASMY/USD daily chart analysis
The daily chart shows that the price of JASMY coin has been in a strong bullish trend in the past few weeks. This recovery was accompanied by higher volume levels. At the same time, the coin managed to move above the important resistance level at $0.0060, the high point of January 24.
Jasmi also jumped to the 50% Fibonacci retracement level. It also jumped above the crucial resistance at $0.0068 (Oct 30 high). It also jumped above the 50-day moving average and the Ichimoku cloud. Jasmi, which is known as Japan bitcoinAnd It also formed an inverted head and shoulders pattern, which is a bullish sign.
Therefore, it looks like Jasmy has the momentum it needs to continue higher in the coming days. If this happens, the next major resistance level to watch will be $0.0086, the 61.8% Fibonacci retracement point. This price is about 27% higher than the current level.
On the flip side, a dip below the important support at $0.0060 will invalidate the upside move. If this happens, it would indicate that there are still sellers in the market who would be keen to push it to the next key support level at $0.0050.
Jasmine price chart analysis around the clock
On the 4-hour chart, we can see that the Jasmy Coin price has made an amazing comeback in the past few weeks. As it soared, the coin surpassed the key resistance level at $0.0060, from where it struggled to move higher on Jan 24 and Feb 2. The currency also rose above the 25-day and 50-day exponential moving averages.
At the same time, a closer look shows that the volume bars have begun to drop. Therefore, this could be a sign that the bullish trend is fading away, which may see its reversal in the coming days. On the positive side, however, the coin formed a small hammer pattern, which is a bullish sign.
A reversal will be confirmed if JasmyCoin price drops below the bottom side of the hammer at $0.0065.
JASMY/USD chart by TradingView