Jasmy Coin, the native token of the Japan-based data democratization project, is again in the spotlight. Despite a generally bearish crypto market in early April, $JASMY has gained attention due to positive signs suggesting it may be reversing.
Data from CoinMarketCap shows that JasmyCoin’s price increased over 3% in the last 24 hours, reaching $0.01034. This slight gain made it the top gainer among the 100 largest coins by market value, which is impressive since many cryptocurrencies, including Bitcoin (BTC), Solana, Ethereum, XRP, and Dogecoin, were losing value.
Jasmy Coin Price Charts Indicate Possible Trend Reversal
Analyst Javon Marks pointed out a key bullish divergence between JasmyCoin’s price and the MACD (Moving Average Convergence Divergence) indicator.
On April 8, he mentioned that while JasmyCoin’s price has been consistently falling, the rising MACD indicator could signal a trend reversal.
This divergence is often one of the first signs that the downward trend is slowing down. When combined with oversold conditions seen in many indicators, sellers are tiring, and buyers may be ready to take over.
Another vital chart observation comes from Alpha Crypto Signal, who pointed out that JasmyCoin is moving within a classic falling wedge—a pattern suggesting a potential reversal to bullish momentum. The price has steadily declined within two downward-sloping trendlines and is now approaching a mid-term horizontal support level.
Consequently, a breakout to the upside is likely if the $JASMY price can hold this support. When confirmed by increased volume and positive momentum indicators, these patterns often precede sharp upward moves.
As noted in the tweet, if $JASMY holds support, traders may consider long positions. However, if the support breaks, traders may shift to short opportunities. Market focus is on this key level in the coming days.
Meanwhile, over the past year, the token has been down more than 50%, but it recently showed resilience at the $0.0095–$0.0100 range, which historically has acted as a support zone.
If bulls can maintain this level and break above the falling wedge pattern, analysts anticipate the token may target resistance zones near $0.013 and $0.015 in the short term. A more ambitious breakout could target $0.02 and beyond.
Strong Technical Resistance Still in Play
Despite bullish signals, the future remains uncertain. According to the technical analysis summary from TradingView for JASMY/USDT, there is a bearish lean, with 14 out of 26 indicators flashing a “Sell.” The moving averages paint a “Strong Sell” picture, although some oscillators start turning neutral or slightly bullish.
Two important buy signals were found in the momentum and MACD oscillators, but they are counterbalanced by multiple moving averages still pointing down. These include the 10-day, 20-day, and 50-day exponential and simple moving averages.
This underscores the cautious sentiment among traders. Although potential for reversal exists, the trend hasn’t officially reversed.
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