Jasmy coin price maintained its upbeat momentum on Tuesday, gaining 7 percent as of this writing to trade at $0.022. The crypto coin is on a strong recovery path, having gained 11 percent Tuesday as the wider global cryptocurrency market bounced back from Monday’s panic-driven nosedive. Furthermore, prior to its recovery, JASMY price had been on a seven-day losing streak that saw it touch three-month lows of $0.015.
Despite its latest upturn, JASMY price is still at a loss of 25 percent on the weekly chart and at minus 0.5 percent on the monthly chart as of this writing. That said, the crypto asset is up by 248 percent year-to-date.
The trajectory of JASMY coin price on the 4-hour chart signals control by the buyers. The price has recently crossed above the middle Bollinger Band after a prolonged period below that level, as highlighted on the chart. Therefore, the upside momentum will likely be sustained if the buyers keep the price above the middle band’s corresponding price level of $0.021.
Furthermore, the Money Flow Index (MFI) indicator is at 55, adding support to the continuation of the upside. Meanwhile, the upper Bollinger Band corresponds to the $0.024 mark, meaning that a break above the psychological barrier at $0.025 could potentially confirm the upward rally.
On the 30-minute chart, JASMY price looks likely to continue the upside above the 0.022 pivot mark. With the buyers in control, the next barrier could come at 0.023. However, extended control by the buyers will result in a stronger momentum to break above that mark and potentially test 0.024.
Alternatively, the sellers could take control if JASMYUSD goes below 0.022. In that case, the first support could come at 0.021. However, extended control by the sellers could breach that level, at which point the upside view will be invalid. Furthermore, that could extend the decline to test the second support at 0.020.
This post was last modified on Aug 07, 2024, 13:01 BST 13:01