- JASMY has been in a prolonged downtrend since December 2023, losing nearly 80% of its value from its peak of $0.055.
- The current price tests the lower boundary of a descending channel, suggesting a potential support level that could trigger a market reversal.
- Analysts project a possible recovery move in April-May 2025 if the price bounces from current support, targeting resistance at higher levels.
The Daily chart for JASMY indicates that the asset is forming a falling wedge pattern. Price action appears to have bottomed out, and the pattern suggests a potential reversal from current levels. Traders now watch for a possible recovery.
Chart Formation and Technical Features
Analysts observe that JASMY has been contained within a descending channel since December 2023. The asset reached a high near $0.055 before entering an extended downtrend. The current price tests the lower boundary of this channel.
Technical analysis shows that the falling wedge is emerging within the channel. A moving average line has served as resistance during the decline. Traders regard the lower channel line as an important support level for a potential bounce.
Price History and Market Sentiment
JASMY experienced a dramatic price spike in December 2023, reaching nearly $0.055. After the surge, the asset lost almost 80% of its value to $0.01109 at the time of writing. Between June and November 2024, the price moved in a narrow range from $0.015 to $0.025.
Market sentiment shifted sharply following the parabolic move. Indicators such as the Stochastic RSI have stayed in oversold territory since February 2025. This sustained oversold condition reflects continuous selling pressure without strong buying interest at prior support levels.
Reversal Projection and Trading Outlook
Current projections suggest a bounce from the lower support line. Price is testing the support level at around $0.011 Analysts expect that a reversal may initiate a rally that could eventually breach the upper resistance line.
Technical projections indicate that a recovery move may develop in April-May 2025. The falling wedge formation mirrors patterns observed in previous market cycles. Traders are monitoring this setup closely, as it offers a narrative of shifting market sentiment. The observed technical markers provide a framework for anticipating a potential upward move in the near term.
