JasmyCoin (JASMY) Breaks Resistance: Is It The Start of a New Rally?

• JasmyCoin breaks resistance, surging to $0.0319, signaling potential for further gains.
• With key resistance broken, JasmyCoin shows strong upward momentum in the current market.
• JasmyCoin surpasses key levels, showing bullish signs backed by increased market activity.

 Cryptocurrency JasmyCoin ($JASMY/USDT) has increased 21.87% to $0.0319 at press time. This surge is attracting the attention of traders and investors, considering that the coin is still under the 0.5 Fibonacci retracement level. This might mean that the cryptocurrency is underpriced, presenting it as a good opportunity for people interested in buying it. With the strong price, is this the right time to invest in JasmyCoin?

Price Action Analysis

Analyzing JasmyCoin price movements on the chart, it can be observed that the cryptocurrency toes the line of being in a so-called ‘discounted zone.’ Historically a support area, the price sits below the 0.5 Fibonacci retracement level. This could mean that JasmyCoin is currently undervalued, and investors could capitalize on it.

A promising upswing is seen in the latest JasmyCoin ($JASMY/USDT) chart as the price touches the $0.03258 resistance. The increase from lower Fibonacci levels, and wide Bollinger Bands points to increased volatility. This could propel JasmyCoin towards further gains if it can break through the resistance at $0.02018808 with sights on the $0.03454325 next target.

Source: TradingView

Technical Indicators: RSI and MACD

From the technical analysis perspective, the Relative Strength Index (RSI) is at 54.48, which means that the asset is neither overbought or oversold. The RSI has not touched the overbought level yet, indicating that the upward penetration has not reached its peak. At the same time, the Moving Average Convergence Divergence (MACD) is directed upwards, which indicates a continuing buy signal and adds more credibility to the bulls.

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Jasmy Total Liquidation

The total liquidations in JasmyCoin investment demonstrate high fluctuation, with some surges in value corresponding with specific changes in price. The fluctuation is an implication clearly showing that the leverage in the market can go high and low leading to unstable price movements giving investors the risk/reward ratios they encounter when investing in this asset. However, these bars also emphasize volatility that reflects how quickly the price may change, which can be suitable for short-term players.

Source: Coinglass

Price action from JasmyCoin currently supports that the coin is undervalued, with a probability of a breakout. With that money uprise coming from RSI and MACD, it seems like more upside could be on the cards. This is an opportunity to get into the market prior to the breach of resistance levels. However, with the volatility and market risks, traders should exercise caution and wait for confirmation of a sustainable breakout.