In the past 24 hours, Jasmycoin (JASMY) has faced significant challenges, with its price declining by 4.68%. This price movement is accompanied by visible fluctuations, as observed in the hourly chart. With the market showing mixed signals, traders closely analyse Jasmycoin’s trends to determine its potential next move.
EMA Trends: Navigating the Moving Averages
The chart highlights four key Exponential Moving Averages (EMAs), namely the 20, 50, 100, and 200-period EMAs. Currently, the price of JASMY is battling near the EMA levels. The EMA 20 is positioned at $0.034452, the EMA 50 at $0.034312, the EMA 100 at $0.034188, and the EMA 200 at $0.033934. The price has recently crossed above the EMA 20, which could signify short-term bullish momentum. However, it remains below the EMA 50, 100, and 200, reflecting a lingering bearish sentiment in the medium and long-term timeframes. JASMY would need to establish a firm close above these key levels for a more substantial recovery.
Source: TradingviewRSI Divergence: Early Signs of Strength?
The Relative Strength Index (RSI) divergence indicator signals a potential reversal. At 14.71, the RSI remains in the oversold zone. The green divergence line indicates that bullish momentum could be forming despite the recent price decline. If the RSI continues to rise, it may confirm a reversal, propelling JASMY toward reclaiming higher price levels.
Related article: Jasmycoin Price Analysis: How Has JASMY Performed Over The Past 365 Days?
Market Sentiment and Momentum
The 4.68% decline underscores the broader market sentiment, which is bearish for JASMY. However, the recent bounce from the $0.03408 support zone suggests buyers are stepping in to defend this level. The appearance of the green candle, combined with the RSI divergence, provides hope for a potential recovery.
Key Levels to Watch
Support levels include $0.03400 and $0.03350, while resistance levels are at $0.03500 and $0.03550. A break above $0.03500 could signal a bullish continuation, while failing to hold $0.03400 might trigger another wave of selling pressure.
Conclusion
Jasmycoin is at a critical juncture, with the indicators showing mixed signals. While the EMA alignment points to bearish dominance, the RSI divergence hints at a possible reversal.
The post Jasmycoin Price Analysis: JASMY Struggles Amid 24 Hours 4.68% Downward Pressure – What to Expect appeared first on FXcrypto News.
