JASMY on the Verge of a Bullish Breakout Above $0.023: Indicators Signal Continued Strength

Jasmycoin (JASMY) has experienced a steady upward movement over the past 24 hours, with bulls in control as buying pressure increases. This analysis examines the technical indicators and market sentiment driving this movement.

Bullish Momentum Building: Price Above Key EMAs

One of the most prominent signals in this analysis is the JASMY price’s position above key exponential moving averages (EMAs). The chart shows the 20, 50, 100, and 200 EMAs, with the price maintaining its position above all of them. As of the latest 24-hour period, JASMY trades at $0.02248, supported by the 20 EMA at $0.02193, the 50 EMA at $0.02154, the 100 EMA at $0.02119, and the 200 EMA at $0.02077.

^{Source: TradingView}

This sustained position above the EMAs indicates a potential for further bullish continuation. Typically, when prices remain above these EMAs, it suggests that traders and investors maintain a bullish outlook, fueling buying pressure. If this momentum continues, JASMY could aim for higher resistance levels in the short term.

Related article: 24-Hour Price Analysis: Terra Classic (LUNC) Holds Steady as Support Strengthens With a 2.59% Surge—Will the Bulls Take Over?

RSI Divergence: Positive Signal Amid Volatility

Another noteworthy indicator on the chart is the RSI divergence. The RSI (Relative Strength Index) divergence on the 5, and 14 settings currently reads a positive 9.06, indicating that bullish sentiment remains intact. Although there have been minor dips, this divergence signals a potential continuation of the upward trend, as it shows growing strength in buying activity relative to selling pressure.

The RSI is a reliable tool for identifying overbought and oversold conditions. With the current positive divergence, JASMY shows room for further gains without triggering overbought warnings. However, due to market volatility, traders should remain cautious of sudden price reversals.

Short-Term Outlook: Bulls Eyeing Key Resistance Levels

With the current positive technical setup, JASMY appears to be eyeing a move toward higher resistance levels, likely around $0.02300 and beyond. Bulls could successfully test these levels if buying pressure persists, leading to a further breakout. On the downside, immediate support lies at the $0.02193 and $0.02154 EMAs, which should provide stability if the market sees a brief retracement.

JASMY is currently showing positive momentum, which is supported by key technical indicators. Traders should closely monitor the EMAs and RSI for signs of continued upward movement or potential reversals.

The post JASMY on the Verge of a Bullish Breakout Above $0.023: Indicators Signal Continued Strength appeared first on FXcrypto News.