JASMYCOIN Price Prediction: Can Jasmy Crypto Price Reach $0.007?

• JASMYCOIN Price Prediction concludes a strong downtrend as the Token has lost almost 98% from its all-time high.
• JASMY Crypto Price recovered 35% from its all-time low.

JASMYCOIN Price Prediction highlights a strong bearish momentum as the Jasmy Crypto price trades near all-time lows. Jasmy Token is trading at $0.004183. The Market is down 6.10% in the last 24 Hrs. The 24H Volume witnessed a fall of 21.03%. The overall market cap stays at $202,822,226.

According to Lookonchain which is an on-chain metrics firm, 700 Million Jasmy Coins worth approximately $3.4 Million were deposited on Gate.io exchange on the 26th of June. This may have a negative impact on the asset’s value and the market can decline further.

JASMYCOIN Price Prediction: A double top can be catastrophic!

On the Daily Chart, things look quite scary for the Jasmy Crypto. The prices recently got a bounce from the all-time low support. However, the formation of a double top is becoming a reason of concern for this token. The market broke the neckline and the prices are trying to retest it.

JASMYCOIN Price Prediction suggests that retest of this pattern can cause further damage of almost 75%. On the flip side, if the Buyers manage to break the resistance, a Bullish rally can contribute towards a double bottom. This may help prices reach at least $0.007 which is an 80% recovery.

The Fight Continues at the Resistance: Technical Indicators

On the 4H Chart, JASMYCOIN Token is in a minor uptrend which is supported by a trendline. Such a formation can be interpreted as a bear flag in a strong downtrend. The Current market showcases a strong fight where The Bulls are fighting hard to reclaim the resistance of $0.00430.

JASMYCOIN Price Prediction establishes a scenario of a short-term consolidation near this level. If the price spends more time here, it adds to the possibility of a breakout of the resistance. Technical indicators highlight the slowing down of the bullish momentum and the declining volume signals the lack of interest.

RSI: The RSI indicator is currently at 41.94 on the 4H. The market is showing weakness and a bearish to sideways market condition.

MACD: The MACD indicator made a bearish crossover and has descended below the 0 line. This may indicate further bearish action.

200 EMA: As observed, on the 4hr, the price is trading below the 200 EMA(exponential moving average) which acts as a significant resistance. This is a clear indication of a downtrend where the sellers are in control and for a trend reversal, the price must break and trade above the 200 EMA.

Conclusion:

JASMYCOIN Price Prediction highlights a strong bearish momentum as the Jasmy Crypto price trades near all-time lows. The Token has lost almost 98% of its value since its all-time high. The technical indicators are giving sell signals on major timeframes. Meanwhile, some investors are looking to gamble as the prices are already in the lows and the current market price can offer a very high risk-to-reward due to the immense upside potential. 

Technical levels

Support Levels: $0.003011- Support 1

Current Price: $0.004213 

Resistance Levels: $0.004310 – Resistance 1

          $0.005859 – Resistance 2

Disclaimer:

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.