JasmyCoin (JASMY) is displaying bullish signals with the formation of a falling wedge pattern. This pattern suggests a potential price breakout and targets at $0.03477, $0.0365, $0.0410, $0.0490, and $0.0580. However, market activity and liquidation trends point towards a period of stabilization.
Jasmy Coin ( JASMY ) is exhibiting signs of a potential bullish reversal, forming a falling wedge pattern on the daily timeframe. This pattern, characterized by descending resistance and support lines, often signals a shift in market sentiment towards upward momentum. JASMY 's price has recently bounced off the 200-day moving average (MA 200) near $0.00380, aligning with the lower boundary of the falling wedge.
This bounce suggests increasing bullish pressure, potentially leading to a breakout scenario.A successful breakout could propel JASMY's price towards targets at $0.03477, $0.0365, $0.0410, $0.0490, and $0.0580. These targets are derived from historical price action and volume clusters, indicating realistic levels for continued upward movement if the wedge is breached. Currently, JASMY finds support in the $0.00360 to $0.00380 zone, where the lower wedge boundary and MA 200 converge. Conversely, resistance lies near $0.00500, coinciding with the upper wedge boundary and a horizontal resistance level. Breaking above this resistance could trigger a surge towards the aforementioned targets. However, if support at the lower boundary weakens, it could lead to a retest of lower levels, potentially invalidating the bullish outlook.The Relative Strength Index (RSI) for JASMY stands at 42.90, suggesting neutral to slightly oversold conditions. A rising RSI would confirm strengthening bullish momentum, particularly if accompanied by a price breakout from the wedge. While the 200-day moving average (MA 200) has acted as a strong support level, reinforcing the bullish setup, metrics like Net Network Growth (-1.01%), In the Money (-4.09%), and Large Transactions (-3.15%) indicate reduced network activity and profitability.Data from IntoTheBlock reveals a decline in large transaction activity (≥$100,000), dropping from 47 to 25 in the last 24 hours, implying reduced interest from high-value traders. This decrease in transaction volume aligns with lower address activity, as new addresses fell by 4.94% and active addresses dipped by 12.97% over the past week. Liquidation data shows $74.4k liquidations over the last 24 hours, consisting of $49.8k in long positions and $24.6k in short positions. Significant spikes in liquidation on January 20th exceeded 80k contracts, highlighting heightened volatility earlier in the week. Overall, the current market data suggests a period of stabilization following substantial liquidation events, with reduced market activity
JASMYCOIN JASMY CRYPTOCURRENCY FALLING WEDGE BULLISH REVERSAL PRICE TARGETS MARKET ACTIVITY LIQUIDATION
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