Home
News
- 1 JasmyCoin price prediction shows that the crypto may rise to a high of $0.0285 id breaks above trendline resistance.
- 2 The JASMY price has dropped below 20 day EMA suggesting weakness over the daily chart.
The JasmyCoin price has made a breakdown below the 20 day exponential moving average and is extending losses towards the 50 day EMA on Tuesday. At the time of writing, the crypto was down nearly 6.21% and was trading close to $0.192.
Earlier, the crypto maintained a positive trend outlook and continued to surge higher after registering a breakout in the third week of February. The price made its way to $0.0077 and $0.024 by the month’s end.
Thereafter, JasmyCoin price dropped from the highs in March however, to rebound from the dynamic support of 50 day EMA and surged. Currently, the recent swing high at $0.0247 has been acting as a supply whereas the 50 day EMA and $0.169 has been acting as a dynamic support. The crypto is stuck in the range and is consolidating in the range.
On the higher side, a breakout above $0.024 may indicate the continuation of a trend and the crypto may show another rally. On the other hand, for the sellers to dominate, the $0.0169 level needs to be broken.
JasmyCoin Crypto Volume Analysis
The volume analysis shows that JasmyCoin received nearly $85.698 Million in volume in the past 24 hours which is nearly 7.40% lower as compared to yesterday. The above chart suggests that the volume inflow jumped much higher in the third week of February rising from $101 Million to $656 Million by the month end. The JASMY price witnessed an upthrust of nearly 260% in the period.
However, the volume inflow has been continuously dropping since the very start of March 2024 and has dropped below $100 Million as per the most recent data. The live market capitalization of JASMY is $970.998 Million and ranks 100th in the overall market.
JasmyCoin Volatility and Sentiments Study
The volatility of JasmyCoin crypto surged higher in the mid-February after a breakout. However, the volatility has been cooling down since March 2024. The drop in volatility shows the price stabilizing at the lower levels.
The weighted sentiment data depicts the overall mood of the traders and investors on the buying or selling side. The overall weighted sentiment maintained a bullish view in February. However, the sentiments dropped near the zero line in March 2024 and turned neutral to slightly bearish.
JasmyCoin Price Technical Outlook
From a technical point of view, the price has dropped below the 20 day EMA highlighting a weak short term trend. However, the crypto is hovering above the 50 and 200 day EMAs suggesting the long term trend is positive.
At the time of writing, the RSI line was placed below the 48.25 points and that of the SMA line was placed at 56.75 points. The RSI line has stepped below the 50 day EMA suggesting a weakness in the short term.
JasmyCoin Price Prediction April 2024
The JasmyCoin price prediction for April 2024 shows that the crypto may advance to a high of $0.0285 if bulls are able to surpass the hurdle of $0.0247 on the higher side. Whereas, the less optimistic analysts estimate a price target of $0.124 on the lower side after the breakdown below $0.0169.
Conclusion.
The JasmyCoin price is extending the losses on the second consecutive session and has dropped below the 20 day exponential moving average. The short term trend outlook has weakened after the breakdown. Earlier, the price maintained a bullish outlook in the previous month and kept rising higher taking multiple support from 20 day EMA.
Moreover, the 50 day EMA may turn out to be a crucial zone. Any sustained move below the 50 day EMA may validate a continuation in the price correction. While if the bears fail to break below the 50 day EMA and the price reverses, it may again reclaim higher swings.
Technical levels:
- Support levels: $0.0169 and $0.0124
- Resistance levels: $0.0247 and $0.0285
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
