Price Analysis

JasmyCoin Enters a Crucial Price Zone; A Breakout From Here May Trigger a 150% Upswing

With a more than 110% rise in the 24-hour trading volume, JasmyCoin has become the 19th most traded asset in the market. The volume, which remained stuck below $100 million, soared close to $500 million. The rise that began at the start of the month is expected to maintain a healthy upswing and eventually cause the JASMY price to lose a zero from its value, probably before the end of the first half of the year. 

The long-term chart of the token suggests the recent upswing has assisted the JASMY price to complete a parabolic recovery to reach the neckline. Moreover, the price is trying hard to surpass one of the crucial resistance levels, between $0.037 and $0.039. If the price manages to sustain above $0.04 until the weekend, then the price may head towards a strong bullish close for the month. 

Just before the weekend, the JASMY price surpassed one of the important resistance zones, which indicates a bullish close for the week. As the markets are expected to increase their volatility during the weekend, the token is expected to receive a significant amount of liquidity, which may fuel a strong bullish trend. The RSI entered the upper threshold and continues to hold at these levels, indicating the price may make it above the critical resistance at $0.047 in the coming days. 

Collectively, the JasmyCoin price has entered a strong bullish range and a bullish close for the week may push the token towards a bullish monthly close. However, even if the bulls experience some weakness, the resistance-turned-support zone is expected to offer a strong base to trigger a rebound. Therefore, the upcoming weekly close is expected to be very important, which may have a huge impact on the JASMY price. 

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