JasmyCoin (JASMY) continues to slide downward, posting a 6.27% loss over the past 24 hours to trade at $0.040298. Sellers have remained in control, with the coin failing to gain ground above significant technical levels. The bearish trend is evident in both price action and momentum indicators.
Moving Averages Confirm Downtrend
The 20 $0.041812, 50 ($0.042888) 100 ( $0.043507), and 200 ($0.043513) EMAs reveal a consistent downward slope, signalling bearish momentum.
Price trading below all these EMAs reflects significant selling pressure, making any potential recovery difficult in the short term.
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The RSI Divergence indicator paints a bearish picture, currently showing a reading of -7.640050. This suggests continued weakness and low buyer participation. Unless JASMY breaks this negative momentum, further downside may persist.
Key Levels to Watch
- Support Zone: $0.039900 – This remains a critical area for bulls to defend. A break below this level could accelerate losses.
- Resistance Levels: $0.041812 (20 EMA) and $0.042888 (50 EMA). Bulls need to reclaim these levels to regain strength.
Outlook: Bearish Bias
The technical indicators suggest a bearish outlook for JASMY. Sellers remain dominant, and momentum favours further downside unless significant buying pressure emerges. Traders should remain cautious and watch for a potential test of the $0.039900 support.
If JASMY fails to reclaim key moving averages, the bearish momentum may continue into the next trading sessions. On the flip side, a break above $0.041812 could signal the start of a recovery.
