Despite the BTC price falling near the $96,000 mark, the altcoins are in a heated bull run. One of the top performers, JasmyCoin, has increased its market price by 17% over the past 24 hours.
As it inches closer to its $2 billion market cap, the bullish sentiments anticipate a price surge beyond $0.050. Will the ongoing recovery rally surpass this critical psychological mark? Let’s find out in our latest JasmyCoin price analysis.
JASMY Price Performance
In the daily chart, the JasmyCoin price showcases a rounding bottom reversal. The parabolic rise in the JasmyCoin started from the crucial $0.016 support level. Since November 5, the current market price has increased by nearly 125%.
Thus, the JasmyCoin price has surged to $0.036 over the past month. The recovery rally showcases a long-coming resistance trend line breakout, ending the streak of lower-high trend formation.
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Furthermore, the bullish trend has surpassed the critical supply zone present between $0.032 and $0.033. With an intraday gain of 16.50%, the JasmyCoin price has created its 7th consecutive bullish candle.
This bullish streak accounts for a price surge of 55% and breaks above the 78.60% Fibonacci level at $0.3353. Currently, the intraday gain and the bullish engulfing candle are in sync closer to the 100% Fibonacci level at $0.04077. Hence, the chances of a new 52-week high in the bullish recovery rally have significantly increased.
JasmyCoin Price Technicals and Price Targets
The recovery rally has resulted in a golden crossover and a positive crossover between the 100 and 200-day EMA line. Furthermore, the MACD and signal lines display a sigmoidal growth with a surge of positive histograms. Hence, the technical indicators are presenting a bullish signal for JasmyCoin.
The Fibonacci level sped the upside price targets at $0.0522 and $0.07170. Hence, the JasmyCoin price analysis reveals an upside potential of 96%. On the flip side, a potential lead test is possible of the 78.60% Fibonacci level breaking out at $0.03353.
Read More: JasmyCoin Price Prediction 2024-2030: Will JASMY Price Go Up To $0.10?
FAQs
JasmyCoin is on a bullish recovery rally. Its price has risen 17% in the last 24 hours and 125% monthly.
The next upside targets based on Fibonacci levels are $0.0522 and $0.07170, with a potential 96% growth ahead.
The key support level is $0.03353, the 78.60% Fibonacci retracement, which could serve as a base for further growth.
