JasmyCoin Surges 54% After Bullish MACD Signal, Eyes $0.27 Target
- JASMY surged 54% after a MACD bullish divergence, with analysts eyeing $0.27 as a possible upside target.
- A breakout above falling resistance confirms trend reversal, supported by rising volume and bullish structure.
- Sustained momentum and a positive MACD suggest JASMY may extend its rally if key levels continue to hold.
JasmyCoin (JASMY) has triggered a bullish movement, showing an approximate increase of 54 percent after being indicated by MACD divergence. As analyst Javon Marks noted, this trend could be the beginning of an even greater growth. At the moment, the price remains substantially below these targets, though JASMY has a potential for an extended up-move, with a projection at and just above $0.27 in focus.
MACD Confirms Bullish Divergence
According to the analysis, the price has been coming down from a peak early this year. However, a breakout has been observed on the downside of the channel, which may be a buy signal after the pattern failed to hold as expected. The price has now risen above the falling resistance line, clearly indicating that there has been a change in the flow of events in the market.
Source: X
The MACD indicator located under the price chart also confirms this bullish scenario. One clear indication that a reversal was possible was that the MACD line rose as the price fell, forming a bullish divergence. This has played out with the price rapidly soaring high to a point where it significantly drops and quickly rises again.
MACD divergences are usually succeeded by major price oscillations, especially when joined by a bullish or bearish confirmation of a long-term trendline. As the two technical conditions for trading relate to JASMY, they are both currently in place.
Resistance Levels to Watch
Javon Marks pointed out that the move might be part of a much larger effort. It complies with the charts rising direction and the development of a powerful base for reversal, the increased volume further evidences this, thus supporting a breakout at this level.
Therefore, in light of todays macro developments in broader markets, JASMY is well-positioned in terms of its technicals. High retail interest shows that the current move has attracted the attention of both position traders and short-term speculators. If the bullish structure holds, the price may continue towards $0.27.
This is followed by the previous support level, which is now working as a resistance level. This area is to be held to confirm the breakout. Traders are looking to $0.17 $0.20 as possible resistance levels before another major thrust towards the $0.27 level.
Analysts postulate that the rally could be sustained as long as the buying volume is present and the MACD stays positive. JASMY has demonstrated its dynamism, and considering that all the docketed signs are now in convergence, it might still have much more potential to extend higher.
Read more: https://www.tronweekly.com/jasmycoin-surges-54-after-bullish-macd-signal/
Text source: TronWeekly
