- JASMY confirms key support at $0.015 and now targets $0.0386, with current trading price around 0.01736 USDT.
- Price volatility and RSI nearing 80 suggest JASMY’s recent rally may have been overheated, with potential retracement ahead.
- JASMY’s 24-hour performance shows 6% peaks and 2% gains, while Bitcoin remains relatively stable, fluctuating between -1% and 2%.
JasmyCoin (JASMY) has recently experienced substantial price action, with notable swings. According to reports, JASMY recently confirmed support at $0.015 after making a key breakout.
With a bullish outlook on Bitcoin remaining important, JASMY is now eyeing its next target of $0.0386. However, price volatility and shifting market dynamics continue to shape its trajectory.
Price Movements and Key Indicators
At press time, JASMY was trading at $0.02047, and is up by 2.18% in the past 24 hours. The market has shown considerable volatility, with sharp upward movements followed by pullbacks as traders locked in profits. Support levels are critical, with notable points around 0.012179 USDT and 0.007464 USDT.
Resistance has formed near the recent high of 0.01900 USDT. A green line indicating a moving average suggests ongoing support during the recent uptrend, while the Relative Strength Index (RSI) highlights potential market exhaustion. The RSI, having peaked near 80, signals that the rally might have overheated before cooling off, aligning with the price pullback observed.
Volume Trends and Market Reactions
The trading volume played a crucial role during JASMY’s recent movements. Volume bars showed heightened activity during the price surge, followed by a decline as the price began retracing.
The volume patterns indicate increased trader engagement during the rally, though the decrease in volume may suggest that the momentum could be fading. However, if the price holds key support levels, another upward move could be attempted.
JASMY vs. Bitcoin: Comparative Performance
Over the past 24 hours, JASMY’s performance has shown more volatility compared to Bitcoin. JASMY surged over 6% at its peak on August 17 before pulling back, but it remained positive, maintaining gains of over 2% by August 18.
Source: CoinMarketCap
In contrast, Bitcoin has displayed a much steadier pattern, with minor fluctuations between -1% and 2%. While JASMY experienced several sharp swings, Bitcoin remained relatively stable, highlighting the difference in volatility between the two assets during this period.
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.
