Jasmycoin (JASMY) has had a turbulent 24 hours, surging to $0.04330 before succumbing to selling pressure and dropping 10.35% to $0.03601. This retracement underscores the token’s challenges as it grapples with declining momentum. With bearish signals dominating the technical landscape, JASMY’s ability to hold critical support levels will determine its short-term trajectory.
Bearish Moving Average Crossovers
JASMY’s chart showcases a clear bearish trend, with moving averages providing key insights:
- The price is currently below the 20 EMA ($0.03865), 50 EMA ($0.03874), and 100 EMA ($0.03808).
- The 200 EMA at $0.03702 acts as the final significant support zone.
- A failure to reclaim the 20 EMA could solidify the bearish outlook and trigger further declines.
These bearish crossovers reflect sustained downward pressure, making a recovery to $0.03900 a critical hurdle.
RSI Divergence Confirms Weak Buyer Interest
The RSI Divergence (5, 14) is a key indicator of JASMY’s waning momentum. With a value of -15.07, the divergence indicates increased bearish pressure. Unless the RSI flips positive, the likelihood of further downside remains elevated. A move above the zero line would signal renewed buying interest for traders.
Related article: Jasmycoin 24 Hours Price Analysis: Is Recovery After a Steep Decline of 2.03% Incoming?
- Immediate Support: The 200 EMA ($0.03702) represents the last significant buffer. Breaking below this level could open the door to $0.03500.
- Resistance Zones: JASMY must overcome the 20 EMA ($0.03865) and $0.03950 to regain bullish momentum. These levels represent critical thresholds for a potential reversal.
Market Sentiment and Volume Trends
The current decline in price is accompanied by relatively low volume, suggesting a lack of conviction among buyers. However, this could change if JASMY approaches key support levels, where buyers often step in to defend against further losses.
Jasmycoin is at a pivotal point. With the 200 EMA as the primary support, the token’s near-term direction hinges on staying above $0.03700. Traders should watch for a break below this level as a bearish signal, while a recovery above $0.03900 would signal renewed bullish momentum.
