JASMY coin price has perfectly met with my last prediction. In August, I forecasted a 25% downside for JASMY crypto with a price target of $0.0027. On 17th August, the price dropped to $0.0028 before having a strong rebound. The latest analysis shows that the coin is trying to break out of a key trendline.
Altcoins are facing some serious headwinds due to the recent weakness in Bitcoin price. The biggest cryptocurrency is trading at $25,666 on Thursday. After a 1.04% uptick on Wednesday, Jasmy coin slid 2.11% today.
Jasmy crypto is currently 29% up from its last month’s lows. It started the year on a very positive note as the price surged by more than 185% at one point. However, the gains were lost as the Bitcoin price failed to break above the $31,500 level.
Currently, Jasmy coin price is trading at 55% below its yearly peak. The price has also broken the bullish market structure on the daily chart. However, the weekly bullish structure remains intact. This suggests that the bulls still have an opportunity to regain control.
A look at the following Jasmy chart shows that the price is trading below the key support level of $0.0043. The price is also respecting a downward trendline on the daily timeframe. Currently, bulls are attempting to break out above this trendline, as visible on the following chart. In case of a breakout, bulls may target the 200 MA, which lies around $0.0047.
Jasmy coin price prediction can flip bullish once again if it closes a day above $0.0047. This would break the bearish market structure by making a higher high on the daily chart. However, such a move is unlikely to occur as Bitcoin is trading below $25,700.
While I’m not bullish on the JASMY coin, there are still many good projects available at discounted prices. I regularly mention such projects on my Twitter, where you are welcome to follow me.
This post was last modified on Sep 07, 2023, 15:11 BST 15:11