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JasmyCoin price has surged 15% in the last 24 hours. Traded at $0.04401 As of 7:30 a.m. EST, trading volume had surged 136% to $487 million.
JasmyCoin price exhibits a gradual upward trend following continued consolidation. The bulls found the anchor support level at $0.01553, which helped the bulls to blow the price towards the $0.02855 resistance level within the rising channel.
Within the channel, bulls appear to have established a strong support level at $0.02118, where the price briefly stabilized.
JASMYUSDT analysis. Source: Tradingview.com
However, the bears began a correction, preventing the bulls from advancing any further. If this correction continues, the bull market’s gains could be significantly reduced as the bull market retreats.
However, the bulls are targeting a regroup at the $0.03518 support level at the lower border of the channel. If successful, it could push the price above the current resistance level.
Additionally, support from technical indicators adds fuel to the momentum. The overall bullish momentum is solidified, with the price maintaining its position above the 50 and 200 simple moving averages (SMAs) and a moving average crossover occurring at $0.018692.
The relative strength index (RSI) shows a rebound from the midline of 50 to the overbought range of 70. This indicates strong buying pressure. As momentum increases, RSI may move into overbought territory.
JasmyCoin price bulls are preparing for a bull rally.
The price of JasmyCoin is caught in a tug-of-war between bulls and bears fighting for control. There is a possibility that the bulls will gather strength from the upper trendline of the channel with the aim of crossing the channel boundary and pushing the price up to $0.05164.
Conversely, a drop in price could signal a shift to a bearish trend, which could cause the bears to put pressure on the bulls and push them back towards the $0.03811 support level.
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