JasmyCoin (JASMY) Poised for Breakout Amid Consolidation Patterns, Analyst Predicts

• JasmyCoin’s consolidation phase mirrors past patterns, signaling a possible price breakout targeting 0.0430 USDT.
• Analysts highlight bullish momentum, with JasmyCoin holding support above the 50-period EMA at 0.02290 USDT.
• Despite a slight pullback to 0.02352 USDT, JasmyCoin remains poised for a potential upward push in the short term.

Crypto analyst JavonTM1 shared insights on JasmyCoin ($JASMY) on X, suggesting a potential large price run. According to his analysis, JasmyCoin may be in a consolidation phase, and based on historical trends, a price breakout could be imminent. The current market conditions, combined with JasmyCoin’s recent movement, hint at a bullish cycle ahead.

Mid-2023 to Late-2024: JasmyCoin’s Repeating Price Movements

Notably, JasmyCoin has shown a clear upward trend over several months, with key consolidation phases marking periods of price buildup. The first of these occurred between June and July 2023, during which the price moved within a tight range before a breakout occurred, pushing prices higher.

In the following months, from October to November 2023, a similar consolidation pattern emerged. This was followed by another strong upward price movement, with the token gaining momentum. 

These recurring patterns suggest a cyclical nature, with each consolidation phase leading to further bullish movements. Most recently, a third consolidation has been observed in mid-2024, showing the possibility of another breakout.

Technical Indicators: Price Momentum and Key Levels

The price action continues to highlight bullish momentum, with JasmyCoin hovering around 0.027803 USDT. As seen in past consolidations, this level could be a precursor to another upward push, targeting highs near 0.0430 USDT. Additionally, a volatility indicator points to an uptick before previous breakouts, further indicating that market conditions might favor a significant price movement.

Despite the positive outlook, there is always a risk that the token might fail to break out of this consolidation phase. If so, a retracement toward 0.0200 USDT may occur. Nonetheless, if the bullish cycle holds, higher highs could be achievable.

JasmyCoin’s Short-Term Outlook in the 4-Hour Analysis

Looking at the 4-hour chart, JasmyCoin recently touched 0.02352 USDT, showing a slight pullback from its recent high of 0.02418 USDT. The chart highlights key Exponential Moving Averages (EMAs), which indicate continued bullish momentum. Currently, the token remains above the 50-period EMA at 0.02290 USDT, which is providing support.

The RSI stands at 48.82, signaling that JasmyCoin is not yet overbought or oversold. Meanwhile, a healthy correction appears to be taking place, and the pullback aligns with previous price actions. If buyers maintain control, there could be another retest of the resistance at 0.02418 USDT, potentially pushing prices higher.