JasmyCoin Price Rallies 125% in a Month: Is $0.0522 Next?
Although BTC price dropped to near $96,000, altcoins are still in the midst of an intense bull run. JasmyCoin is one of the best performing currencies, with its market price rising by 17% in the past 24 hours.
As its market cap approaches $2 billion, bullish sentiment expects the price to surge above $0.050. Can the ongoing recovery rally break through this key psychological threshold? Let us find out in the latest JasmyCoin price analysis.
Jasmi value for money
On the daily chart, JasmyCoin price is showing a round bottom reversal. JasmyCoin’s parabolic rise began at the critical $0.016 support level. Since November 5, the current market price has increased by nearly 125%.
As a result, the price of JasmyCoin surged to $0.036 over the past month. The recovery rally demonstrates a breakout of a long-term resistance trend line, ending a continuous trend of lows and highs.
Furthermore, the bullish trend has exceeded the key supply area between $0.032 and $0.033. JasmyCoin price rose 16.50% intraday, creating 7 consecutive bullish candles.
This bullish trend caused the price to surge by 55% and break above the 78.60% Fibonacci level at $0.3353. Currently, the intraday gains and bullish engulfing candles are in sync with the 100% Fibonacci level at $0.04077. Therefore, the likelihood of a bullish recovery rally to a new 52-week high has increased significantly.
JasmyCoin Price Technical and Price Targets
The recovery rally resulted in a golden cross and a positive cross between the 100-day and 200-day moving averages. Furthermore, the MACD and signal lines show an S-shaped growth and the positive histogram surges. Therefore, technical indicators bring bullish signals for JasmyCoin.
Fibonacci levels accelerate upward price targets at $0.0522 and $0.07170. Therefore, JasmyCoin price analysis reveals an upside potential of 96%. On the other hand, a test of the 78.60% Fibonacci level above $0.03353 is likely.
Read more: JasmyCoin Price Prediction 2024-2030: Will JASMY Price Rise to $0.10?
FAQ
JasmyCoin is in the midst of a bullish recovery rally. Its price has increased by 17% in the past 24 hours and is up 125% on a monthly basis.
The next upside targets based on Fibonacci levels are $0.0522 and $0.07170, which could lead to a 96% increase in the future.
The key support is at $0.03353, the 78.60% Fibonacci retracement level, which could serve as a basis for further growth.
