Despite the BTC price falling near $96,000, altcoins are in a heated bull run. One of the top performers, JasmyCoin, has increased its market price by 17% in the last 24 hours.
As the market cap approaches $2 billion, bullish sentiments expect a price increase above $0.050. Will the ongoing recovery rally surpass this critical psychological point? Let’s find out in our latest JasmyCoin price analysis.
JASMY Price performance
In the daily chart, JasmyCoin price shows a reversal to the bottom. JasmyCoin’s parabolic rise started from the crucial support level at $0.016. Since November 5, the current market price has increased by almost 125%.
For example, the JasmyCoin price has risen to $0.036 in the past month. The recovery rally shows a long-term break of the resistance trend, ending the sequence of lower-high trend formation.
Moreover, the bullish trend has surpassed the critical supply zone between USD 0.032 and USD 0.033. With an intraday gain of 16.50%, JasmyCoin price has created its 7th consecutive bullish candle.
This bullish streak is responsible for a 55% increase in price, breaking above the 78.60% Fibonacci level at $0.3353. Currently, the intraday gains and bullish engulfing candle are closer to the 100% Fibonacci level at $0.04077. So the chances of a new 52-week high in the bullish recovery rally have increased significantly.
JasmyCoin price technicals and price targets
The recovery rally has resulted in a gold crossover and a positive crossover between the 100- and 200-day EMA lines. Furthermore, the MACD and signal lines show sigmoidal growth with a wave of positive histograms. Therefore, the technical indicators present a bullish signal for JasmyCoin.
The Fibonacci level accelerated the upside price targets to $0.0522 and $0.07170. Therefore, the JasmyCoin price analysis reveals an upside potential of 96%. On the downside, a potential lead test is possible with the 78.60% Fibonacci level reaching $0.03353.
Read more: JasmyCoin Price Prediction 2024-2030: Will JASMY Price Rise to $0.10?
Frequently asked questions
JasmyCoin is in a bullish recovery rally. The price is up 17% in the last 24 hours and 125% monthly.
The next upside targets based on the Fibonacci levels are $0.0522 and $0.07170, with potential 96% growth ahead.
The main support level is $0.03353, the 78.60% Fibonacci retracement, which could serve as a basis for further growth.