- JasmyCoin outperformed Bitcoin by 474% in early 2024, with another potential rally confirmed by a bullish divergence.
- RSI divergence in JASMY/BTC suggests weakening bearish momentum, indicating a possible continuation of the uptrend.
- JASMY surged 15% between Sept 19-24, showing increased volatility compared to Bitcoin’s steady 5-7% growth.
According to crypto analyst JavonTM1, JasmyCoin (JASMY) has shown strength against Bitcoin (BTC) since January 2024, outperforming it by over 474%. As of September, the cryptocurrency is poised for another potential uptrend, with a Hidden Bullish Divergence confirmed on the JASMY/BTC pair.
This divergence, which suggests a possible shift in momentum, hints that the recent market pullback might be temporary, setting up a possible continuation of the January-June uptrend.
Bullish Momentum Indicators
JasmyCoin’s price action has displayed multiple signals of underlying bullish strength. Since early 2023, JASMY had been following a descending wedge pattern, which often signals bearish sentiment. However, after months of this bearish activity, the coin experienced a breakout, sparking an upward trend.
The subsequent higher lows formed after the breakout indicate increased buying interest and a reduction in selling pressure. Notably, the price touched a resistance level of 0.000000515 BTC, a key area of focus. JavonTM1 projects that if this support holds, JASMY could target 0.000000713 BTC in the coming weeks.
RSI Confirms Bullish Divergence
Another key indicator supporting JASMY’s bullish outlook is the Relative Strength Index (RSI). Despite the recent pullback in price, the RSI registered lower lows while the price itself formed higher lows.
This divergence indicates that bearish momentum is weakening, with underlying market strength signaling a possible reversal. JavonTM1 emphasized this divergence as a sign of upcoming bullish activity, reinforcing the potential for continued price gains if the support level holds firm.
Comparative Performance with Bitcoin
The performance comparison between JasmyCoin and Bitcoin over a seven-day period from September 19 to 24 provides further insight. While Bitcoin maintained steady gains, JASMY outperformed significantly, spiking over 15% by September 24.
The chart highlights JASMY’s volatility, as it experienced sharp fluctuations in contrast to Bitcoin’s more stable movement. By the end of the week, JASMY displayed stronger growth, suggesting increased buying activity, while Bitcoin remained in the 5-7% range.
