JASMY/USDT Buyer Targets $0.05000

The JASMY token has seen considerable gains in recent times. Today, this token has witnessed additional upside retracement. Although bullish momentum isn’t strong, technical indicators still favor the ongoing trend.

Jasmy Statistics:

Current Price: $0.03315

Market Capitalization: $1.61B

Circulating Supply: 49.44B

Total Supply: 50B

CoinMarketCap Rank: 68

Key Price Levels:

Resistance: $0.0400, $0.0500, $0.0600

Support: $0.0300, $0.0200, $0.0100

JASMY/USDT Price Faces Resistance at the 50-Day MA Line

As of the time of writing, JASMY has recorded a 4.13% price increase in today’s trading session. However, price action appears to have hit the 50-day Moving Average (MA) line, acting as a resistance level. Despite this, the market remains bullish, with strong momentum, as indicated by the size of the most recent price candle on the daily chart.

At the same time, the Stochastic Relative Strength Index (RSI) lines can be seen rising sharply into the overbought region. The behavior of this indicator suggests high volatility, but the fact that price action has rebounded off the 50-day MA may signal caution for traders in the market.

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JASMY Buyers Are Tightening Their Grip

Even on the 4-hour chart, bullish forces continue to drive the market. Price action remains above all the MA lines and has just breached the 61.80% Fibonacci Retracement level. Additionally, the 20-day and 100-day MA lines have just crossed each other, signaling potential bullish momentum.

The Stochastic RSI has dipped into the oversold region but has now converged for a bullish crossover. Technically, the Jasmy token on the daily chart appears aligned for a continued upside retracement, based on signals from technical indicators. However, traders should remain cautious and set modest price targets below the $0.0400 level.

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