JASMY’s Critical Test: Oversold RSI and Bullish Divergence Hint at a Bounce

• JASMY tests critical 0.016 support, with RSI at 37.10 hinting at oversold conditions—bounce or breakdown ahead.
• Bearish momentum persists as MACD stays negative, but bullish divergence in RSI signals possible reversal.
• A breakout above the descending resistance could spark recovery, but failure to hold support risks new lows.

JASMY is currently at a critical support level, testing the 0.016 zone. This level has historically triggered rebounds. The asset is forming a descending triangle, indicating a decisive moment. Additionally, at 37.10, the RSI indicates that the market is oversold. The market is going to be severely oversold if it falls below thirty. Despite bearish momentum, a strong support bounce could lead to an upward reversal.

Technical Analysis: Key Support and Resistance Levels

A strong horizontal support at 0.016, which has been tested several times, is suggested by the price movement. Price breakouts are still constrained by the falling trendline’s resistance. The continuous downward trend is also supported by the bearish emotion displayed by the Heikin Ashi candles.

The RSI at 37.11 suggests weakening selling pressure. However, the MACD remains negative, with the signal line below the MACD line, confirming the bearish trend. If a crossover occurs, momentum could shift upward.

Furthermore, trading volume remains low, suggesting weak buying pressure. A price consolidation near the support level indicates reduced volatility. If JASMY fails to hold this level, it could see new lows. Conversely, a breakout above the descending resistance could initiate a trend reversal.

Bullish Divergence: A Reversal Signal?

Market behavior is showing a Regular Bullish Divergence in the chart of JASMY. This formation typically leads to a reversal. Price makes lower lows while RSI makes higher lows. This shows weakening bearish momentum. However, the recent bounce from support hints at potential recovery. If buyers defend the support zone, a short-term recovery is likely.

Despite the bearish structure, historical trends show price rebounds from similar levels. However, a confirmed bullish breakout is necessary for a trend reversal. Without it, the bearish trend could persist.