- JASMY crypto’s price has dropped by 20% in the past 5 days.
- The JASMY price has displayed a shocking fall of 99.29% from its ATH.
- JasmyCoin price has dropped by 7.28% in an intraday session.
The chart structure displays that the JASMY price has been bullish since the beginning of 2024. It has recorded a 52-week high of $0.044 on June 07, 2024. The bullish trend has disturbed near the $0.0400 hurdle and showed a fall of 20%.
After a consolidation of 3 months in a parallel channel, the price triggered a breakout and witnessed a bullish momentum of 65%. At the time of the breakout, the trading volume surged by 1000%.
At press time, the JasmyCoin price traded at $0.0357, which has declined by 7.28% in the past 24 hours. The market capitalization is $1.75 Billion, and the 24-hour trading volume is $256.57 Million, which is up by 30%.
Volume Has Dropped Violently
The trading volume has declined by 55% in the past 3 days, affecting the price negatively. For the last 2 weeks, the trading volume has sustained near $550 Million, which lifted the price after the breakout. The volume has dropped to $250 Million, and the price has shown weakness.
Does JasmyCoin Look Strong?
$JASMY never bought this shitcoin but it looks pretty strong still…bizarre. pic.twitter.com/RNzgpPHER3
— Altcoin Sherpa (@AltcoinSherpa) June 10, 2024
A source on X claims that JasmyCoin is a shitcoin, but at this time, the $JASMY crypto price looks strong based on the chart structure. In a 4-H time frame, the price has been taking support at $0.0370. According to the trend, the Jasmy crypto price may gain bullish momentum in the next few days.
JASMY Price Technical Analysis Over 1-Day Timeframe
In a daily time frame, the JASMY price has been bullish since 2024 and has reached a 52-week high. After a strong buying momentum, the price has shown profit booking in the short term.
The current fall can be converted into a pullback if the buyers show interest. Suppose the price falls to the 20-day exponential moving average and forms a bullish candlestick pattern; buying momentum can be initiated.
On the other hand, if the JasmyCoin price slips below the 20-day EMA and sustains, sellers may become confident. The price below the 20-day EMA is a bearish sign, and most investors may prefer to book profit, which may result in strong selling pressure.
Turning to the technical indicators, the RSI is 60, developed a bearish crossover with an RSI-based moving average, and is heading for the oversold zone.
Conclusion
The JasmyCoin price is currently undergoing a correction after a significant bullish trend. It has shown some weakness in the short term, and there are indications of a bearish crossover in the RSI. However, the JASMY price is currently finding support around $0.0370, and there is potential for bullish momentum.
Observing whether the price can hold above the 20-day exponential moving average will be crucial. It may attract more selling pressure if it slips below that level and sustains.
Technical Levels
The JasmyCoin price is expected to face resistance from the $0.0400 and $0.0650 levels, whereas it may take support on the $0.0250 and $0.0170 levels.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.