JasmyCoin Breakout Signals Bullish Trend with Potential Gains

JasmyCoin (JASMY) has recently shown promising signs of a bullish trend. A post by World Of Charts highlighted a confirmed breakout from a descending channel. This breakout led to an immediate 10% profit, with experts predicting another 70-75% increase soon. The technical indicators and market data support this optimistic outlook, making JasmyCoin a hot topic among traders and investors.

The 4-hour chart analysis is crucial as it shows JasmyCoin breaking out of a downward channel. This breakout is a strong bullish signal, suggesting a potential trend reversal. The projected target from this breakout indicates an 83.73% increase, potentially driving the price up to around $0.0484. Such a significant rise could attract more attention from the market.

Additionally, the daily chart offers valuable insights. The Relative Strength Index (RSI) level is at 50.35, indicating JasmyCoin is neutral, neither overbought nor oversold. This neutrality provides room for further price appreciation. The daily candles reveal a steady upward movement after a period of consolidation. At press time, the price has moved up to $0.02685, reflecting positive market sentiment.

Market data from CoinMarketCap further strengthens the bullish outlook with a price increase of 9.48% increase in the last 24 hours. The market cap has also risen to $1.32 billion, up by 9.78%. This increase in market cap suggests growing investor confidence. Moreover, the 24-hour trading volume has surged to $119.22 million, a 69.77% increase. This spike in trading activity indicates heightened interest in JasmyCoin.

Another important factor is the circulating supply of JasmyCoin. With 49.3 billion JASMY in circulation, accounting for 98.60% of the total supply, the market sees robust activity. This high circulation rate further indicates strong market engagement and confidence in the coin’s potential.

Overall, JasmyCoin’s recent breakout from the descending channel is a strong bullish indicator. Technical analysis suggests significant upside potential and the increase in trading volume and market cap supports this positive outlook. Traders and investors might see this as a lucrative opportunity to enter the market, anticipating further gains in the coming days.