JasmyCoin Price Rallies 125% in a Month: Is $0.0522 Next?

Published by

Sohrab Khawas

December 3, 2024

JasmyCoin Price Rallies 125% in a Month: Is $0.0522 Next?

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.

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.

FAQs

1. What is JasmyCoin’s current price trend?

JasmyCoin is on a bullish recovery rally. Its price has risen 17% in the last 24 hours and 125% monthly.

2. What are the next price targets for JasmyCoin?

The next upside targets based on Fibonacci levels are $0.0522 and $0.07170, with a potential 96% growth ahead.

3. What is the critical support level for JasmyCoin?

The key support level is $0.03353, the 78.60% Fibonacci retracement, which could serve as a base for further growth.

Sohrab Khawas

Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.