JasmyCoin Price on the Verge of a Breakout? Key Indicators Signal Major Gains Ahead!
The recent movements by the #JasmyCoin price show a notable uptrend, with closing prices progressing from $0.030748 to $0.036606. This upward trajectory is supported by both the 9 and 20 Exponential Moving Averages (EMA), which have been steadily rising. The 9 EMA has increased from $0.029807 to $0.032923, while the 20 EMA has moved from $0.028125 to $0.030332. The shorter-term EMA being above the longer-term EMA confirms the bullish momentum.
Examining the Moving Average Convergence Divergence (MACD) indicator, we see that the MACD line has consistently remained above the signal line. This is reflected in the MACD values: starting at 0.001782 and rising to 0.002634, while the signal line increased from 0.001402 to 0.001925. The expanding histogram, from 0.000380 to 0.000709, further emphasizes the strengthening bullish trend.
Meanwhile, the Relative Strength Index (RSI) has been persistently above the 70 mark, indicating an overbought condition. Initially at 67.79, it peaked at 81.03 before slightly retreating to 80.38. This high RSI suggests potential profit-taking or a minor pullback as traders might look to realize gains.
Given the bullish technical indicators, JASMY could test higher resistance levels in the near term. However, traders should watch key support and resistance levels for potential reversal signals. The immediate support levels to watch are $0.024476 and $0.020864. These levels could provide entry points for long trades if prices pull back and hold these supports.
On the upside, potential resistance could be faced near the previous highs around $0.036711. A breakout above this level could see $JASMY target new highs, making this a potential entry point for momentum traders. #altcoins #TrendingPredictions #BullorBear
The full analysis and trade strategy were originally posted on ecoinimist.com.