JasmyCoin (JASMY) Retests Resistance, $0.025 Price Target in Sight
- JasmyCoin has rebounded from April lows and is now trading near the upper boundary of a rising wedge pattern.
- The price faces resistance between $0.0185 and $0.019, with a breakout potentially leading to $0.025.
- RSI is at 70.18, indicating overbought conditions, while MACD shows mild bullish momentum.
- A breakout with volume could confirm an uptrend, but failure may lead to a pullback toward $0.016 or lower.
JasmyCoin (JASMY) is showing signs of strength after recovering from its April lows, but technical indicators suggest the cryptocurrency is approaching a crucial decision point. As of this writing, JASMY is trading at $0.018346, hovering near the upper boundary of a rising wedge pattern that has been forming over the past month.
After peaking at $0.06 in December 2024, JasmyCoin entered a sustained downtrend, losing momentum through the first quarter of 2025. However, the price found a base in early April around $0.0095, sparking a steady rebound that pushed JASMY back above $0.018 in recent weeks. This recovery has been contained within a rising wedge, a technical pattern that can signal either a continuation or a potential reversal.
JasmyCoin Tests Resistance Zone, $0.025 in Sight
The immediate resistance lies between $0.0185 and $0.019, a zone that has capped recent rallies. A breakout above this level could pave the way for a move toward the next major resistance at $0.025. On the downside, support levels are established at $0.0161 and $0.0151, aligning with the lower trendline of the wedge.
Technical indicators are sending mixed signals. The Relative Strength Index (RSI) is currently at 70.18, entering overbought territory, which has historically preceded short-term pullbacks. Meanwhile, the Moving Average Convergence Divergence (MACD) shows mild bullish momentum, with the MACD line staying slightly above the signal line.
A successful breakout with increased volume could confirm bullish continuation, targeting $0.025 in the near term. However, a failure to clear resistance may lead to a pullback toward the lower wedge boundary, testing support around $0.016 or even $0.015.
The coming days could be pivotal for JasmyCoins short-term trend as the market awaits a decisive move out of this pattern. Crypto analysts are advising caution as price approaches overbought levels, while also noting the potential for a breakout if momentum accelerates.
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Read more: https://www.tronweekly.com/jasmycoin-jasmy-retests-resistance-0-025-price-target-in-sight/
Text source: TronWeekly
