- Analysts predict JasmyCoin could break the $0.05 barrier soon, highlighting strong bullish momentum.
- According to an analysis of Tony’s Chart, a breach above resistance at around $0.04800 suggests further gains for JASMY.
- JasmyCoin’s weekly surge and high trading volume underscore its growing popularity and potential for a continued uptrend.
Crypto analysts Tony and Javon Marks have highlighted JasmyCoin’s (JASMY) bullish momentum, predicting a potential breakthrough at a critical price level. This surge reflects growing investor confidence in JASMY’s future, as evidenced by its price movements and trading volumes. Crypto Tony noted that JASMY has been soaring and is set to hit his set target.
An analysis of Crypto Tony’s chart reveals a volatile yet upward trajectory for JASMY from mid-January to early June 2024. The recent sharp increase, marked by large green candlesticks, indicates strong buying interest.
Tony identifies a key support line at $0.01630 and sets a target at around $0.04800, suggesting potential for further gains. Moreover, his analysis points to this target as part of a larger trading strategy, possibly an Elliott wave.
JASMY’s price trades around $0.03906 at press time, a 52.76% increase in the past week. The daily trading volume of $450,549,451.94 underscores the coin’s growing popularity. Analyst JavonMarks believes a break above $0.05 is imminent, aligning with Tony’s bullish prediction. This consensus between two top analysts adds weight to the optimistic outlook.
The technical indicators further support this bullish sentiment. Tony’s chart shows JASMY’s price likely crossing significant moving averages, a sign that often confirms an uptrend. Additionally, the strong support at around $0.01750 has historically acted as a pivotal level for price rebounds, providing a safety net for investors.
However, traders should remain cautious. JASMY might retest lower support levels if it fails to breach the $0.04800 resistance. Hence, monitoring price action at these critical points is crucial for determining JASMY’s future trend. A successful break above $0.04800 could see JASMY testing higher resistance levels not visible on the current chart.
Furthermore, the broader market context appears favorable. JASMY’s surge comes amid increasing interest in altcoins as investors seek opportunities beyond mainstream cryptocurrencies. Its strong performance, therefore, may also reflect broader market trends.
