- JASMY faces strong resistance at $0.0270 and $0.0320, struggling to break through these levels in recent attempts.
- Immediate support at $0.0210 is crucial; a break below could lead JASMY towards the next support zone around $0.0140.
- Indicators show a bearish trend, with the RSI neutral and MACD suggesting weakening bullish momentum, confirming downward pressure.
The JASMY/USDT pair on Binance is showing bearish signals. An ascending triangle pattern has emerged, and the $0.02800-$0.02550 level has become a crucial resistance point.
Recently, the price fell below the $0.0228 support level, shifting the focus to the next support zone at $0.02000. If the price hits this zone, a bullish rebound may occur. However, a break below this support could trigger a substantial downward move.
Price Movement and Resistance Levels
The current price action indicates that JASMYUSDT is struggling to break through resistance levels. The first resistance level is at $0.0320, with multiple touchpoints, and the second is around $0.0270, which the price tested recently but failed to break above. The immediate support level is around $0.0210, marked by the lower trend line of the descending triangle pattern.
If JASMYUSDT breaks below the $0.0210 support, the price might head towards a lower support zone around $0.0140. This scenario indicates a potential continuation of the bearish trend. Volume analysis is crucial here; typically, a break below support with high volume confirms the bearish trend.
Indicators and Future Movement
The Relative Strength Index (RSI) is currently neutral at 54.39, indicating neither overbought nor oversold conditions. The Moving Average Convergence Divergence (MACD) suggests weakening bullish momentum, with the MACD line above the signal line but converging.
The overall trend appears bearish, with lower highs and lower lows. The recent price action supports this trend, and a continuation of this pattern could see the price testing the immediate support at $0.0200. If the price drops below this level, it could lead to further declines.
Source; TradingView
Key Takeaways: Support, Resistance, and Bearish Sentiment
Immediate support for JASMYUSDT is at $0.0210, with a potential lower support at $0.0140. Resistance levels to watch are $0.0270 and $0.0320. The descending triangle pattern suggests a potential bearish continuation, with the RSI currently neutral and the MACD indicating weakening bullish momentum. A high volume on a break below the support would confirm the bearish trend.
This analysis highlights the bearish sentiment for JASMY in the near term, with the price breaking below key support levels and continuing to follow the descending trend lines. It is essential to consider other factors, including fundamental analysis and broader market conditions, for a comprehensive market view.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
