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- 1 Jasmy coin price stayed flat around the 20 day EMA mark throughout the week.
- 2 Analysts displayed a positive outlook and could accelerate.
The Jasmycoin (JASMY) price stayed flat around the 20 day EMA support zone and is waiting for another bullish wave to extend the bullsh rally.
The crypto broke out by over 100% and reached the supply zone of $0.04460. After the rally, investors booked their gains off the table triggering a price retracement over the last weeks.
After the bullish flag pattern, the coin decisively gained on the primary support zone of $0.03000. Once JASMY crosses the prompt hurdle of $0.3300, buyers would gain traction, after which a follow-on rise could be seen.
At press time, JASMY was trading at $0.3010 with an intraday surge of 1.02%, reflecting neutrality on the chart. It has a monthly return ratio of 29.20% and 609.20% yearly.
The pair of JASMY/BTC is at 0.000000493 BTC, and the market cap is $143.11 Million. Analysts are neutral and suggest that the bullish wave may continue.
JASMY Looks Bullish: Rally Imminent?
After the notable breakout rally of over 100% last month, the coin has retraced over 25% and reached the 61.8% Fib level this month. Nevertheless, the coin looks strong.
Until the lower trendline support zone of $0.2300 is breached, the sentiments for the coin are likely to remain positive.
Source: TradingView
The price action suggests that before a significant drop, a rebound toward the $0.3800 mark is likely. Afterward, the coin may lose the bullish grip and may consolidate in future sessions.
The RSI curve regressed from the overbought zone to the midline region and displayed a convergence on the chart.
Source: Santiment
The Daily Active Addresses data showed a notable decline of over 47% and dropped to 279, revealing a decrease in investor interest.
@JAVON MARKS highlighted his positive commentary in his tweet.
$JASMY (JasmyCoin), $4.47842, +14,877%. https://t.co/6u2cYDdf25 pic.twitter.com/GjvPuyc6l0
— JAVON⚡️MARKS (@JavonTM1) June 28, 2024
Source: X
Sharpe Ratio Indicates Bulls Strength
The Sharpe Ratio data on a yearly basis revealed a gigantic rise and revealed a demand surge in the last few months. The value was noted at 3.45, highlighting that it is a strong contender.
Source: Messari
Per the above chart, the data highlights a massive spike and highlights the bulls dominance. The coin is expected to rise further.
The immediate support levels for the Jasmycoin (JASMY) are $0.02800 and $0.02500, whereas the key upside hurdle is around $0.03200 followed by $0.03500
JASMY held gains above the 20-day EMA mark and could rise further. This week, the coin price was stuck around its support zone of $0.03000.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
