JasmyCoin (JASMY) is navigating through a challenging phase, showing resilience even as the broader cryptocurrency market struggles to recover from recent losses.
While the token has faced a short-term pullback, signals suggest it is preparing for a potential breakout.
In the past 24 hours, JASMY has slipped by nearly 2.54%%, while weekly performance also reflects sustained selling pressure.
At the time of writing, the coin is priced at $0.01427 with a notable 24-hour trading volume of $24.45 million, marking a sharp 57% increase.
Despite the dip in price, JASMY maintains a market capitalization of $705.78 million, highlighting strong interest among traders.
The overall crypto market is currently under pressure, with Bitcoin facing heavy declines and struggling to maintain critical support levels.
This widespread weakness has contributed to altcoins like JASMY seeing volatility. However, technical indicators hint that JASMY may soon shift its momentum.
JASMY breakout signals $0.040 target ahead
From a chart perspective, JASMY is approaching a critical point. The price is testing resistance at the 100-day moving average around $0.0148.
A decisive move above this zone could turn resistance into support, laying the groundwork for a potential rally. The descending channel pattern, which has been shaping price action in recent weeks, is showing signs of a breakout.
Trading activity also supports this outlook, with volume growth suggesting renewed participation from buyers.
If the current setup holds, JASMY could target higher levels at $0.019, $0.023, $0.032, and potentially $0.040. These targets would represent a significant upside from current levels, making the coin one to watch closely.
JASMY strength signals rally potential
While the short-term trend remains uncertain, JASMY’s ability to defend its support zone amid a market-wide pullback signals underlying strength.
If Bitcoin manages to stabilize and recover, JASMY may be among the altcoins to benefit most from renewed momentum.
For now, traders are keeping a close eye on the resistance around $0.015 and the support at $0.013.
According to market analysis, if the price falls below $0.013, then a further decline to the next support at $0.0109 would be possible. However, if the bullish momentum is sustained, at the resistance at $0.015 is broken, then $0.019 and beyond would be within reach.